WHAT COMES NEXT FOR #ROSE NOW THAT IT HAS GO TO THE NEXT LEVEL OF SUPPORT?
We conducted this analysis for ROSE in November of 2024:
The goal of ROSE is to maintain the critical threshold of 0.055. The next level of support will be at 0.047 if this crucial level is broken. The broken barrier at 0.045-0.047 will be followed by a new line of support at this critical level. Strong bullish divergence is emerging for another continuation of the long-term uptrend once demand emerges from the key levels mentioned.
Updated in December 2024:
The prior support that ROSE tried to hold at 0.055 has already been pulled down. The following level of support that maintained its waning momentum is what we are currently examining. We can also observe more critical levels like 0.4551, 0.04172, and 0.03990 where it may form potential lengthy wicks. We may fairly presume that the supports listed could be used as the reversal points for the points of reversal we are looking for. However, 0.03816, where the previous big resistance was broken in 2020, has the best possibility of becoming the price's reversal point. Furthermore, we do not rule out the possibility that further drops could result from the breakdown of key supports (such as its neckline).
USING THIS STRAIGHTFORWARD YET EFFECTIVE STRATEGY, WE PROFIT EACH TIME THIS TOKEN MOVES LOWER!
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We made 4.01%, 7.52%, and 6.59% profit on our most recent $NOT trade. We might be able to make more than 10%–20% as a possible swing trade if you consider the next level of NOT. Let me share with you now the trick that allows us to profit on NOT's downward swings. Check the current state of the market's supply and demand for NOT using the RSI tool. Check the current state of the market's supply and demand for NOT using the RSI tool. You will get the general impression that this token is approaching its overbought state since you can see the RSI moving closer to 60 and 70 on its hourly period. You can now estimate that the price range with the majority of sell orders pending in its current market scenario is between 0.0081 and 0.0096. After that, see if you can observe about 30 to 40 RSI by looking at the daily timeframe. This will provide you with a broad perspective on the higher element of NOT. You will learn more about how to buy this token at a lower price and take some scalps or daily trades as it approaches being oversold. Determine the regions where the majority of stop losses for people who take their longs too quickly are located. For instance, you may set your entry at 0.00712 if the majority of traders make a trade at that level and set a stop loss at 0.00712. These are only sample entries; you can check with different techniques you may have and create more confluences.
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.