I’ve been studying this coin for, well, since it was created. It appears to be ready to have a breakout moment (along with half of the alts out there).
RDD has been under the influence of the thicker down trend line on the chart since January 2019. It has touched or passed through this line 5 or more times (depending on how you count it) so this line appears to be fairly influential. RDD is close to breaking through this line along with the thinner down trend line on the chart.
The thinner down trend line dates back to April 2018. I believe that the older a trend line is, the more potential it has for strong influence. Crossing both of these lines would be an extremely bullish sign. If RDD continues on it sideways trajectory then it will cross both lines (convincingly cross them) in several days.
Starting in Jan 2021 it started a bull run at 3 sats and ended at 24 sats in April 2021 (along with all the alts). I only mention it because I believe this was an upwards correction and not a 5 wave impulse. This leads me to believe that should RDD go through another bull run that it will be very strong, stronger than the correction was.
RDD has a history of strong/wild upward movements. I believe that the next price target is 24 followed by 60 and maybe 90. I plan on selling most of my holdings at 24 and then reassessing the market after that.
The Daily MCAD has been channeling since March 2021 and has broken out of the channel (Nov 14) and pushed above zero (Nov 18). I will attempt to add this to the comments.
I have some resistance zones marked on the chart and the price targets I mentioned in the post. There is also a potential price path though it is pretty rough. I try not to predict more than a couple price movements into the future. Who could anyway?
I read all of the above as very bullish.
My analysis will not sooth the pain of your loss: research, believe, act, and manage your stops.
RDD has been under the influence of the thicker down trend line on the chart since January 2019. It has touched or passed through this line 5 or more times (depending on how you count it) so this line appears to be fairly influential. RDD is close to breaking through this line along with the thinner down trend line on the chart.
The thinner down trend line dates back to April 2018. I believe that the older a trend line is, the more potential it has for strong influence. Crossing both of these lines would be an extremely bullish sign. If RDD continues on it sideways trajectory then it will cross both lines (convincingly cross them) in several days.
Starting in Jan 2021 it started a bull run at 3 sats and ended at 24 sats in April 2021 (along with all the alts). I only mention it because I believe this was an upwards correction and not a 5 wave impulse. This leads me to believe that should RDD go through another bull run that it will be very strong, stronger than the correction was.
RDD has a history of strong/wild upward movements. I believe that the next price target is 24 followed by 60 and maybe 90. I plan on selling most of my holdings at 24 and then reassessing the market after that.
The Daily MCAD has been channeling since March 2021 and has broken out of the channel (Nov 14) and pushed above zero (Nov 18). I will attempt to add this to the comments.
I have some resistance zones marked on the chart and the price targets I mentioned in the post. There is also a potential price path though it is pretty rough. I try not to predict more than a couple price movements into the future. Who could anyway?
I read all of the above as very bullish.
My analysis will not sooth the pain of your loss: research, believe, act, and manage your stops.