WE HAVE ADDED THESE TO THE CHECKLIST OF OUR HIGHLY ANTICIPATED ALTCOINS!
A TOKEN THAT HAS ONE OF THE HIGHEST TENDENCY FOR BOUNCING?
The previous yearly lows such as the 2023, 2022, 2021 and so on. Are the lows where almost every experienced traders consider HODLing more of their bags. The reason for this is the fact that these lows can create major supports on top of the previous broken major resistances. Since bases will possibly be established from those levels. Those are called opportunity zones or demand zones with extreme number of buy orders.
Let's take AMP as an example.
AMP is currently moving on this year's low and it has already touched the 2022 low. If you examine AMP's market structure, it is currently going through a market decline. However, if you take a look at the sentiments beyond what you can see on the chart. You will be able to gain more insights on what the buyers are thinking on these key levels. 0.002207, 0.002350, 0.002744 and so on, you will see long orders stationed there. Although, before these will be met, AMP will most likely retrace on its higher key levels. Until the time for its decline phase will be over and another accumulation to happen.
#ADX MOVING CLOSELY TO ITS YEARLY LOW: WHAT'S NEXT?
ADX has been moving closely to its yearly low and we are closely monitoring its reaction to the demands on these zones. It's trading today at a price of 0.1475 and the key levels 0.1284, 0.1147 & 0.1094 are key levels with extreme demands from buyers. Within these key levels more accumulation may likely occur. These tests that are currently happening on its major support will be considered its identification of proper foundation for its next market phase. Once these tests are done, its market structure will start its initial phase for a possible markup. A great rally will likely occur once everything is already prepared for this token. The best strategy to use is the art of patience.
THIS TOKEN HAS BEEN SITTING BELOW ITS YEARLY LOW (PRICE ACTION CONFIRMED)
Every market's structure starts with the accumulation phase and as such it will undergo with the other 3 phases after the 1st one for a long period of time. Since this would happen after a long period of time, there will be processes where it will take months to finish. As an example, AVA has been sitting at its accumulation phase with the price trading below its yearly low. There are tests done above the support in order to ensure the strength of this token is enough for the upcoming next phase. Before the next phase happens, there will be series of short-term consolidation where buyers and sellers will certainly meet their orders. Within these levels, day traders will be able to take profit with any of their short or long trades, e.g. buys from 0.466 and sells from 0.593. Since the selloffs from the recent decline were already devoured by buyers' sentiment. We can safely assume that this accumulation will showcase many buy positions may they be sniping for entries at these demand zones or simply taking long positions for long-term. In the event a short-term rally will occur, many will then conclude that the market will already be at its markup. Although, the best way to confirm this is to be patient and silently observe the market before reacting immediately. Just look at what happened with BTC, after its decline and accumulation it didn't immediately do a markup. Instead, it was a steady rally before the breakouts occurred.
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.