EFIUSDT is moving in a channel that may retest his support and bounce back to go further.
1-Always use stop-loss.
2-Do your research.
3-Always for the confirmation before jumping into the market.
Thanks and Happy trading
💎 EFIUSDT has broken above the descending triangle. After the retest it has got rejected from the support line. Now the large green candle shows that the Bulls are back
🏁 Short & Medium Term
💵 Invest Only 5% of your Portfolio
🎳 Entry at Market or at 0.7910 - 0.8100
☕️ TP1 0.9110
🍺 TP2 1.1450
🍻 TP3 1.3615
🍾 TP4 1.6222
Efinity formed a descending triangle. Usually a bearish pattern. But it breakout two weeks ago with a low volume. Yesterday, EFI then tested the strong support line again at around 0.70$, and then successfully bounced with a metaverse hype all the way to the 1,22$. The ideal entry would be at the support line - at around 0.70$. So you can wait for this to happen,...
Quite bullish on this but structure just got rekt. You could get some nice returns, would add 30% here on OKEx if i could (but their exchange got rekt in my country) and 40% more if it went down, last 30% after it reclaims bullish territory or even enters the previous channel (might want to TP once it bounces off the bottom of the channel, usually support turns to...
see and watch :)
In the time of 4 hours after the formation of the wedge pattern and its breakout and then the pullback to it, it has shown a good movement and it is possible to enter into a deal by observing the risk to the desired rivet ...
EFI is current trading above the support of $0.89. If it can stay above this support, we could start seeing a move towards $1.07, $1.15, $1.23, $1.34 and $1.49. If the resistance at $1.49 flips to support, we could see a move towards $1.92, $2.61, $3.29 and $3.72. Failure to hold the support at $0.89 could lead to a drop towards $0.80 and $0.73.
Efinity is one of Coinlist's newest projects to be released. A purpose built chain for NFT's destined for Polkadot at some point, I'm guessing they will try and get a parachain slot in the upcoming auctions. This chain is built by the team over at Enjin which are responsible for much of the NFT token standards currently pumping pixelated jpgs.