THIS TOKEN HAS BEEN TRADING BELOW ITS ANNUAL LOW (CONFIRMED PRICE ACTION)
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This is the reason.
Since the accumulation phase is the first stage of every market's structure, it will experience the other three phases for a considerable amount of time following the first. Certain procedures will take months to complete because this would occur after a lengthy time. For instance, AVA's price has been trading below its annual low while it has been in its accumulating period. To make sure the strength of this token is sufficient for the following stage, tests are conducted above the support. There will be a series of short-term consolidations before to the following phase, during which buyers and sellers will undoubtedly fulfill their orders. Day traders can earn from any of their short or long bets inside these ranges, such as buying at 0.466 and selling at 0.593. as buyers' sentiment had already sucked up the selloffs from the most recent downturn. It is reasonable to predict that this accumulation will indicate a large number of buy positions, whether they are long-term long positions or sniping for entrances at certain demand zones. Many will then believe that the market will already be at its markup if there is a brief rally. However, the easiest approach to verify this is to wait and watch the market in silence before acting. Take a look at Bitcoin, which did not instantly see a markup following its decline and accumulation. Rather, before the breakouts, there was a sustained climb.
THIS WAS OUR PERSPECTIVE ON THE NEXT PRICE ACTION OF $PNUT AND THIS HAPPENED!
Last November:
The recent advancement beyond minor resistance levels has yielded additional insights indicating a possible breakout for PNUT. Consequently, we have resolved to continue executing purchase orders, resulting in a significant increase of 500.19%. The current market volatility demonstrates a strong bullish sentiment. In our analysis of the purchasing momentum for this altcoin, we will also develop strategies to improve the execution of buy orders.
For the upcoming months, we can see a potential for PNUT to find more price ranges to consolidate. This is a given. Especially with the ongoing rejection that it has experienced. Thus, once a good consolidation area is located. We can develop key strategies to optimize our positioning in the market.These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.