You have every reason to be sceptical of this asset. It's ability to get back to $1 is about the believable as the Pheonix, which is almost what USTC and indeed, all of the Terra has ostensibly become; a pheonix rising from the ashes.
But...my previous idea panned out. A little bit delayed but nearly the same. We can see that there has been a beautful bounce off of the clean resistence area and price is maintaining slightl bullish momentum.
However, a few caveats. With the price trapped between the 50 and 200 SMAs this is basically a rock and a hard place. A squeeze is going to occur with buyers a sellers fighting over it's direction and it may face short bearish momentum for the next few days.
But, take something into consideration: Long term, no one wants this asset to go down. I've personally bought another $1000 worth of USTC and I'm holding it to the appropriate levels. My idea is not original nor is it adivsable.
But my idea echoes the same message as my previous one...buy and hold that motherfucker.
But...my previous idea panned out. A little bit delayed but nearly the same. We can see that there has been a beautful bounce off of the clean resistence area and price is maintaining slightl bullish momentum.
However, a few caveats. With the price trapped between the 50 and 200 SMAs this is basically a rock and a hard place. A squeeze is going to occur with buyers a sellers fighting over it's direction and it may face short bearish momentum for the next few days.
But, take something into consideration: Long term, no one wants this asset to go down. I've personally bought another $1000 worth of USTC and I'm holding it to the appropriate levels. My idea is not original nor is it adivsable.
But my idea echoes the same message as my previous one...buy and hold that motherfucker.
Comment:
CPI data came out on the 14th (o.1% increase) and this is what has caused the price to plummet. However, the price has hit the 1 hour support and bounced off that. So, no there is no mystery or manipulation. It's just the big boys at work.