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3 Cryptocurrency Avoid for Trading In This week
Three crypto currencies to avoid trading this week due to economic risks and possible sell-offs Âč. The three crypto currencies are Binance USD (BUSD), Injective (INJ), and Kaspa (KAS).
According to the article, BUSD is a stable coin that is pegged to the US dollar. It is used to facilitate trading on the Binance exchange and is not expected to experience significant price fluctuations. However, the article suggests that BUSD may be affected by regulatory changes in the future Âč.
INJ is a cryptocurrency that is used to power the Injective Protocol, a decentralized exchange that allows users to trade a wide range of assets. The article suggests that INJ may be affected by the recent market downturn and that it may experience significant price fluctuations in the near future Âč.
KAS is a cryptocurrency that is used to power the Kaspa blockchain, which is designed to be more scalable and efficient than other block chains. The article suggests that KAS may be affected by the recent market downturn and that it may experience significant price fluctuations in the near future Âč.
Please note that investing in cryptocurrencies is a high-risk activity and it's important to do your own research before making any investment decisions. If you have any further questions, feel free to ask.
#TrendingTopic #TradeNTell #aviod #3COINS #Mehmood
$INJ
Three crypto currencies to avoid trading this week due to economic risks and possible sell-offs Âč. The three crypto currencies are Binance USD (BUSD), Injective (INJ), and Kaspa (KAS).
According to the article, BUSD is a stable coin that is pegged to the US dollar. It is used to facilitate trading on the Binance exchange and is not expected to experience significant price fluctuations. However, the article suggests that BUSD may be affected by regulatory changes in the future Âč.
INJ is a cryptocurrency that is used to power the Injective Protocol, a decentralized exchange that allows users to trade a wide range of assets. The article suggests that INJ may be affected by the recent market downturn and that it may experience significant price fluctuations in the near future Âč.
KAS is a cryptocurrency that is used to power the Kaspa blockchain, which is designed to be more scalable and efficient than other block chains. The article suggests that KAS may be affected by the recent market downturn and that it may experience significant price fluctuations in the near future Âč.
Please note that investing in cryptocurrencies is a high-risk activity and it's important to do your own research before making any investment decisions. If you have any further questions, feel free to ask.
#TrendingTopic #TradeNTell #aviod #3COINS #Mehmood
$INJ
3 coins to keep an eye on | 12 JUNE 2023
EOS
After consolidating for a year, EOS sharply dropped to its lowest price since October 2017.
The price could seek to fill in some or all of last week's drop. Some or all of June 10th's daily gap from $0.698 to $0.884 might fill.Â
Stronger resistance may exist near the top of this gap where distribution occurred, from $0.859 to $0.896. This distribution overlaps with the June monthly open and the 40 EMA.
If this resistance breaks, relative equal highs at $0.930 could be the next target. A weekly gap reaching from these highs up to $0.955 might cap this potential stop run.
Possible support is unclear since the only historical price action near the current price is nearly six years old, lessening its precision.Â
The midpoint of June 10th's wick, at $0.650, may offer support for a rally. Monday's AMA could reveal bullish news that helps this level to hold and support a rally.
If this possible support breaks, bulls might look for signs of support at the 100% extension of this wick, near $0.500.
2.FLR
FLR has been in a decline that has accelerated since April.
There is no historical price action to suggest support. Bears could take some profits at the rounded price levels of $0.01500 and $0.01200.
The price is bouncing into Saturday's daily gap, which might provide resistance. The price has already tested this gap and does not need to go higher.Â
However, the price may reach higher in this gap to the Jun 8th swing low at $0.01770 or fill the gap by reaching $0.01819. Fresh supply from Thursday's FlareDrop could trigger a new leg down and help bears time their entries in this gap.
If the price breaks through this gap, bears might want to be cautious. Bears' stops above $0.01958 offer a reasonable upside target. Above this high, a small daily gap reaching $0.01991 may partly or entirely fill.
3.VEGA
VEGA plummeted from its June 4th high to run bulls' stops into a gap under the $1.2070 swing low.
The price has filled this gap, which spans from $1.1368 to $1.2070. Bulls could monitor this level for signs of support that might lead to at least a short-term rally.Â
June 12th marks the deadline for a significant decrease in staking rewards, reducing supply and downside pressure. This event may help bulls find support in the gap.
If the price continues lower, bulls' stops under two relatively equal weekly swing lows near $0.9801 could be the next downside target. This price overlaps with the upper half of monthly accumulation in December 2022 and would likely see some profit-taking from bears.
Above the price, a daily gap begins at $1.2569. This level is also the origin of May 22nd's sharp rally, distribution on June 8th, and the 9 and 40 EMAs. These confluences might provide resistance.
If the price breaks through this level, bears' stops above the $1.5260 swing high may be the next target. Above this high, a daily gap reaching up to $1.5658 could pause or reverse the price.
#3COINS $FLR $VEGA $EOS
After consolidating for a year, EOS sharply dropped to its lowest price since October 2017.
The price could seek to fill in some or all of last week's drop. Some or all of June 10th's daily gap from $0.698 to $0.884 might fill.Â
Stronger resistance may exist near the top of this gap where distribution occurred, from $0.859 to $0.896. This distribution overlaps with the June monthly open and the 40 EMA.
If this resistance breaks, relative equal highs at $0.930 could be the next target. A weekly gap reaching from these highs up to $0.955 might cap this potential stop run.
Possible support is unclear since the only historical price action near the current price is nearly six years old, lessening its precision.Â
The midpoint of June 10th's wick, at $0.650, may offer support for a rally. Monday's AMA could reveal bullish news that helps this level to hold and support a rally.
If this possible support breaks, bulls might look for signs of support at the 100% extension of this wick, near $0.500.
2.FLR
FLR has been in a decline that has accelerated since April.
There is no historical price action to suggest support. Bears could take some profits at the rounded price levels of $0.01500 and $0.01200.
The price is bouncing into Saturday's daily gap, which might provide resistance. The price has already tested this gap and does not need to go higher.Â
However, the price may reach higher in this gap to the Jun 8th swing low at $0.01770 or fill the gap by reaching $0.01819. Fresh supply from Thursday's FlareDrop could trigger a new leg down and help bears time their entries in this gap.
If the price breaks through this gap, bears might want to be cautious. Bears' stops above $0.01958 offer a reasonable upside target. Above this high, a small daily gap reaching $0.01991 may partly or entirely fill.
3.VEGA
VEGA plummeted from its June 4th high to run bulls' stops into a gap under the $1.2070 swing low.
The price has filled this gap, which spans from $1.1368 to $1.2070. Bulls could monitor this level for signs of support that might lead to at least a short-term rally.Â
June 12th marks the deadline for a significant decrease in staking rewards, reducing supply and downside pressure. This event may help bulls find support in the gap.
If the price continues lower, bulls' stops under two relatively equal weekly swing lows near $0.9801 could be the next downside target. This price overlaps with the upper half of monthly accumulation in December 2022 and would likely see some profit-taking from bears.
Above the price, a daily gap begins at $1.2569. This level is also the origin of May 22nd's sharp rally, distribution on June 8th, and the 9 and 40 EMAs. These confluences might provide resistance.
If the price breaks through this level, bears' stops above the $1.5260 swing high may be the next target. Above this high, a daily gap reaching up to $1.5658 could pause or reverse the price.
#3COINS $FLR $VEGA $EOS
