Today I'm sharing my idea about AUGUR and it's potential +31% surge. As You all know We are witnessing a wild altcoin season, having a potential 10x gains on the table.
My humble failsafe target for Augur would be the 35.89 - 37.02 zone, which We have tested on 18th of December. This zone is actually a previous supply zone which can be noticed on higher timeframes such as 3D and Weekly timeframes. I would wait for a confirmation signal, a clear sign that We have succesfully broken out of the accumulation zone and found support from the previous resistance. Use top-down analysis to be sure You are on the right side of the trade. Also as the BTC is getting quite over-extended, put Your eyes on the BTC chart. I have a feeling We are going to see a solid correction and soon as the BTC starts dumping, alts will follow!
As We are witnessing extreme volatility on the crypto markets right now, I recommend You to play safe and be rational while trading and investing. Make a solid exitplan and don't be foolish. There's no place for the greed as the greedy ones will get liquidated sooner or later. Use this generous market wisely ;)
Thank you for analysis. What is the target price short and long term?
N1M0N4
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@User112820, Short term target would be the same, 35.89 / 37.02 zone which is marked on the analysis. Mid term I can see it going to $40 price target, but for long term it can go up to $54 and above, where it would be in price discovery. I recommend staying alert as We see BTC over-extended and I'm feeling We are going to see a massive correction, which means same for the altcoins. It all depends how people react to the market correction, so I would recommend You to take smaller profits on failsafe levels, as it can go against You in mid-to longterm. Nothing is guaranteed :)
jweirdlo
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@N1M0N4, I agree, massive correction coming. Only a matter of time. Take profits while you can and then wait for the bargain shopping. Everything will be "on sale" soon