THE BEST ALTCOINS FOR LONG-TERM POSITION POTENTIAL
THIS IS WHAT HAPPENED AFTER WE SNIPED THE POTENTIAL KEY LEVELS WHERE $KNC WOULD LIKELY BOUNCE!
given how incredibly optimistic the cryptocurrency market is at the moment. Everyone may easily enter long positions and benefit in shorter periods of time. However, determining the best locations for a potential altcoin bounce would be a difficult task. Every time the market dumps during a market structure's markup phase, and vice versa with pumps during a market structure's markdown phase, that is the problem we take on. As seen by the entry we completed for KNC. Following the retest at 0.4933 on August 25, we placed long positions at a number of important levels. The best time to make a sniper entry is around 0.4136, according to our analysis. With an RRR of 8.26, this has a total risk of 3.70% and a total profit of 30.56%. after the profit-taking at the possible high selloffs from KNC's weekly trading range. The price continues to hover above the retest level, indicating that the positive momentum is still present. as soon as the cryptocurrency market starts moving aggressively again. KNC should regain the key support levels it formerly possessed in 2022–2023. Thus, the easiest approach to read KNC's market structure is that it is going through an accumulation phase, where many people would think that the price would never recover again, but whales beg to differ.
WITH NO INDICATION THAT IT WILL BREAK OUT OF THIS, $MTL KEEPS MOVING WITHING ITS WEEKLY RANGE. WHAT COMES NEXT?
The altcoin's general feeling is still at a standstill, as evidenced by MTL's recent weekly increase of 20.68%. Many traders wish to keep trading in the range of these weekly fluctuating values. Now, both a breakout and a closure at a higher price than typical are still feasible, particularly if the entire cryptocurrency market exhibits tremendous bullish momentum. It would be prudent to presume, though, that many are still building up on these crucial levels. Consequently, additional entries will be made for range traders.
Stay wise, trade cautiously.