So I'm just going to post this here so I can push the play button on this chart in a few months. No need for any technicals on a token that's hours old. Bullish though as they have strong backing and could develop into the Aave of the avalanche ecosystem.
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I had originally thought 0.25$ was a good area to watch for a pullback or consolidation. Now, I'm not so sure and we could see further upside if the top side of this channel is flipped to support. Deposits now exceed 1 billion and AVAX still looks strong.
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Well I guess we know now where the short term top was.
Looking for blue line to hold before next move up, assuming BTC doesn't go into larger correction. If BTC does correct deeper into the low 40ks, then this chart will most likely get ugly.
I’ve been hoping someone would do a TA on here… since it’s so new care to do a price prediction using FA instead or a combination of the two..?
crossedfingers1
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@V1K1NG, Inflation, outside of usual staking rewards, will hit in a month so it's tricky to predict price when token unlocks are starting. Those first few unlocks generally represent a large percentage of the overall supply so they can have more impact on price. Also, the L1 platforms are really driving their respective tokens price. Solana pumped and so did all it's tokens. Now it's consolidating and so are most of its tokens. Avax is pumping now, so i'm sure all the ecosystem tokens are pumping with it. If Avax continues to do well, Qi will as well.
V1K1NG
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@crossedfingers1 thank you… what sort of time frame are we looking at for the unlocks….. AVAX is new to me so I’m starting to research now. Mind to update over the next few days for me… please? In hospital now nearly cut my finger off so I missed selling out from KuCoin Bot @$0.146 (Buy in) down to $0.13344 (current price). Whatcha thinking I should do… Financial advice of course.
crossedfingers1
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@V1K1NG, I'll try and update the chart with my thoughts, but TA isn't really useful right now when a project is days old and I'm using a 15 min chart to get any real info. There are no resistances to look for and supports are not strong and tested. For me, I'm just going to ride this one for a few more weeks and sell before the token unlock which is about 27 days from now. If I was to recommend anything, it's usually wise to get out of the way of unlocks for lucky people who by the could be 100x up at that time.
crossedfingers1
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Taking a shot on this dip on the retest and 618 bounce.