Timeframe: 7D
Based on your numerous requests, I am doing a review of this altcoin. The structure of market movements from 2014 to 2020 formed a large-scale triangle with potential at a round quote of 1.00, which was ideally realized. After the formation of the final growth wave, a senior correction began.
If we look at the upward movement that began in June 2022, we can clearly see that it is not an impulse or a diagonal, so it cannot be called the beginning of a bull market. The structure shows the formation of a double zigzag, which serves as a correction before the continuation of the downward trend.
The altcoin itself is absolutely nothing; it grows solely due to people’s belief that growth will continue. Consequently, when market sentiment towards this dud becomes negative, the price will fall uncontrollably. Considering the chart and fundamental factors, I strongly do not recommend having this cryptocurrency in your portfolio.
