As requested, I'm now charting BEL
BEL is a low market cap token that has been soaring high for quite some time now. The ultimate question is, will it still grow some more?
In the immediate short term, BEL is still looking bullish. In the 1H chart, candles are forming an Ascending triangle. Yup, it is creating support along it's recent resistance, and the lack of selling pressure has been creating a set of higher low at each drop.
Since it's a low market cap token, it can easily soar higher if given the right buying pressure. However, when trading this token, one should pay attention on the token distribution. Etherscan contract shows that a single wallet holds more than 30% of it. Yup, one major whale spotted. So before this whale lifts a finger, make sure to take every gain, and always set an SL. 😁
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#TrendingTopic #HotTrends #BTC #BellaProtocol #TechnicalAnalysis Chart below 👇