$SHIDO accumulation phase - Next breakout coming?
$SHIDO is nearing the end of an accumulation phase that has lasted for about two weeks after a selloff at 175m FDMC. This was a natural result of more than 20x gains from early November to mid January.
Currently holding between 100m and 115m FDMC, it has been ranging in this area after a 61.8% retracement.
This support level is in line with fundamental aspects of this innovative Layer 1 blockchain promising interoperability with EVM, Cosmos and WASM. Built with tendermint consensus, the testnet has over 1.3 million tx, boasting 10k TPS and 0.95s time to finality. SHIDO solves the trilemma and is worth looking at as a long term opportunity. It isn't just a blockchain, it is an entire ecosystem. More than 50 projects are in line to build on Shidochain when mainnet launches later this month. 37% of total supply is staked, showing strong community support in a project with almost 15k holders.
RSI on Daily TF has been trending above the 50 level and is poised for a crossover and buy signal.
TDI has our bollinger bands completely above the 50, with our Market Base Line holding a level in the high 60s. Trade line and Price line are in a position to crossover in a bullish continuation, with room to go up to the projections demonstrated here by trend based Fibonacci extension.
Short term target 1 - 0.015000
Short term target 2 - 0.019250
For long term target, I give you the words of SHIDO's CEO: "The goal is top 20, no less." - Bjorn
For more information, please see the website at shido.io.
I am not a financial advisor. All posts are my own opinion and intended to provide readers with entertainment and educational value. Investing in cryptocurrencies is extemely volatile. Please consult with your financial advisor and never invest more than you are willing to lose.
Currently holding between 100m and 115m FDMC, it has been ranging in this area after a 61.8% retracement.
This support level is in line with fundamental aspects of this innovative Layer 1 blockchain promising interoperability with EVM, Cosmos and WASM. Built with tendermint consensus, the testnet has over 1.3 million tx, boasting 10k TPS and 0.95s time to finality. SHIDO solves the trilemma and is worth looking at as a long term opportunity. It isn't just a blockchain, it is an entire ecosystem. More than 50 projects are in line to build on Shidochain when mainnet launches later this month. 37% of total supply is staked, showing strong community support in a project with almost 15k holders.
RSI on Daily TF has been trending above the 50 level and is poised for a crossover and buy signal.
TDI has our bollinger bands completely above the 50, with our Market Base Line holding a level in the high 60s. Trade line and Price line are in a position to crossover in a bullish continuation, with room to go up to the projections demonstrated here by trend based Fibonacci extension.
Short term target 1 - 0.015000
Short term target 2 - 0.019250
For long term target, I give you the words of SHIDO's CEO: "The goal is top 20, no less." - Bjorn
For more information, please see the website at shido.io.
I am not a financial advisor. All posts are my own opinion and intended to provide readers with entertainment and educational value. Investing in cryptocurrencies is extemely volatile. Please consult with your financial advisor and never invest more than you are willing to lose.