Today we are going to analyze a very interesting and promising asset #RAD #TopCoins2024
đRAD is a token that is used in the Radix DLT ecosystem. It can be used to pay transaction fees, participate in network management votes, incentivize participation in the ecosystem, and other purposes. One of the main goals of Radix DLT is to provide high speed and scalability to the network. This allows it to process a large number of transactions in short periods of time and to scale as the number of users grows.
â The asset was long in accumulation between the global support level of $1.5 and the global resistance level of $1.8. The asset has since rallied more than 100% of the net move. During the spill, the asset made a correction of 60% of net movement and returned to the accumulation zone, where one can accumulate spot positions very well
âĄïžIn the near term, I expect a test of the global support level, after which a reversal pattern on LTF will be formed. The first short-term target for us will be to break the first global resistance level and update the $1.95 values
âĄïž In the medium term, I expect an update of the high of $3.57. But for that we need to break the area of increased volume which is located behind the global resistance level.
âĄïžIf we consider the picture in the global perspective, the main target will be the value of 6.4$, where the global resistance level is located. From the current values it will be more than 300% of the net movement
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