ANOTHER SET OF ALTCOINS THAT HAVE REBOUNDED FROM THEIR DEMAND ZONES
#MANTA ON THE RISE AFTER REBOUNDING FROM THE HIGHEST DEMAND ZONE IT CURRENTLY HAVE!
There are times when the crypto market provides opportunities for those who are bold and that's not an overstatement but a fact. These opportunities once grabbed doesn't only give a sense of relief for those who will take results but also newfound wisdom that will be used for their entire lives. Thus, grabbing opportunities with the right mentality will really payoff.
Now, let's get to the main topic.
MANTA's strong rebound from the highest demand zone caused its price to a total of 28.84% increase in the span of almost 4 days. Many traders are awaiting on these zones with long positions since this is one of the areas where MANTA is considered to be oversold. Although, there are still lower key levels that might be broken down unto since they could be considered as extreme oversold areas where extreme buying orders will be met. If you also take a look into the possible DCA that most would do on this altcoin, it would not be hard to identify the potential pump that may happen in the near future. In its short-term we can see that the price may break the previous retest last August 25 at 0.842. From there, it could potentially bump into high sell orders at 0.940, 1.091 & 1.215 or even higher key levels. Now, since we consider these areas to be accumulation areas. There is a possibility that more and more demand will pop up until it becomes a highly acknowledged altcoin.
OUR #TAO TRADE REACHED A 90.91% PROFIT AFTER BOUNCING FROM THE ZONE WHERE IT'S HARD TO BREAK!
After we have noticed that the key levels 214.3-252.5 was very hard to break and there were no signs of it weakening at all from the previous months' data. We have decided to carefully observe for a potential rebound at these levels and took our time to take the optimal position initially at 254.2 which we then took the full profit for 5.15%. As TAO continued to take the lower key level than this entry of ours. After taking the newer optimal position at 225.5, we were able to witness a high price bounce with a total increase of 90.91% causing the weekly highs to be broken through. Now, we're carefully planning our next move for TAO's next price action since we don't want to be hasty in considering that this is already the possible breakout we're looking for. Patience is what it takes to fully commit oneself into profitability.
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.
