😁 Automat Network is an interesting name… Rating 618 on CoinMarketCap, an asset with low liquidity.
They have significantly reduced the price, catching newcomers.
“Invest $1,000, Ivan the Fool, and you will get $10,000, but without the three zeros.”
❗️ The price has now stabilized after a -97% drop, just like many other new altcoins. However, this altcoin is from the 2021 cycle, which doesn't really matter anymore - the price has been heavily discounted, but the asset has not yet been raised.
🟢 The downtrend is nearing its end, and a reversal is expected, coinciding with the altcoin market preparing for the new season.
However, remember that the asset could still fall further into the surrender zone, although this may not happen. The price is currently at its lowest level, and if you are considering a medium-term position, you can buy and not worry too much.
⚙️ Recommendations for trigger orders:
• Place an order below $0.0693.
• Or, place it on a breakout to $0.1738 (slightly more expensive, but less risky).
Note: There could be a false breakout from the current zone, so be aware of the risks. The price is currently “compressing”, with stop orders being collected from margin traders.
✔️ If you use margin trading:
• Do not exceed 1.6-2x, with a maximum leverage of 3x.
• Higher leverage would likely lead to complete liquidation.
• Follow risk management: if the price drops lower, prepare an “air cushion” in advance to act when needed.
🎄 With the holiday season approaching, there is a chance for a reversal or at least a breakout from the current channel.
⚠️ Take profit zones:
• First target - $0.38 (plus 238% profit from current price).
• However, it is better to set slightly lower targets to lock in profits before the mass profit-taking zones are triggered.
If the asset breaks out of the range, some consolidation and trend continuation may occur. The chart looks similar to many other altcoins with low liquidity, but this one has the potential to provide excellent returns.
Important: stick to your strategy, avoid impulsive decisions and always consider the low liquidity of the asset!
Exit from the descending channel +100% at the moment, protect your profits!🚨🚨