👉mid-term (weeks): broke its sideways movement through the roof. Went through correction, entered an upward channel, broke it a few days ago (bottom), and testing its support level. Next week will clear things up. Scheduled for growth.
👉short-term (days): broke through its upward channel, going down, still a bit far from its support level (16.9 USD).
⚡micro (24 hrs): just touched its resistance level and will probably be going down. Wait another hour or so for it to develop
👉mid-term (weeks): it seems like #AVAX broke its downward trend and after establishing a new higher high, went through a correction (1 week already). It is close to its support level now, hopefully, will bounce and grow. Give it a few days more to develop
👉short-term (days): going through a downward channel. Wait until it breaks the pattern.
⚡micro (24 hrs): hits its support level, expected to grow. Might move sideways for a while with another dip though. Better wait or use SL if you open long.
📰News: MEMErium (AVAX competitor) is in pre-sale and is gaining popularity, which is not great for AVAX. This might affect AVAX pricing (negatively).
👉mid-term (weeks): we can say that it moves sideways since middle of April. The average price maintains almost the same.
👉short-term (days): testing its support level. Nothing stops it from going below this level. So be careful and do not rush opening long positions.
⚡micro (24hrs): touched its support level, we can expect it to go up, but I would not rush as ADA is going through a dangerous zone now so better wait.
Lots of talks how MoonBag coin affects ADA. I guess it is just market excitement even though I am a bit skeptical when it comes to ADA.
👉 mid term (weeks): we will see #SOL growing. It recently came back to April's high and I do not see any kind of signs of a downward trend.
👉short-term (days): went down after reaching April's high. So we might see some fluctuations during the next few days. 161 USD is our next support level.
⚡micro (within 24 hrs): hit its support level a few hrs ago. if you had a chance to enter long - you are already in profits.
If not, wait for a few hrs as it might drop again before going high. Screenshot of daily trading attached.
You do not want to be too early and risk your funds now. If #TRX is scheduled for growth, the growth may continue several days/weeks. So you will have plenty of time to jump in and earn your share.
I would suggest waiting for another 12-24 hrs to see how things develop before opening a long position. No rush here.
We have multiple indicators showing potential for an upward trend (RSI, OBV, SAR, Fisher, EMA). --- What to keep in mind about ADA:
👉2.9 billion ADA were purchased at an average price of 0.481 which creates a major resistance zone for us. 👉Cardano (ADA) is behind ETH and SOL in terms of the size of the ecosystem. So the majority of developers might prefer ETH and SOL over ADA. This raises doubts about its potential.
As we've seen previously, #UNI hit its resistance zone (April's high) and now is heading to its support level. Wait, open long when it hits support level.
I was WRONG about $WIF . That is the point (see screenshot) when I thought it was a good idea to open a short position.
But as you can see, #WIF continued ascending. What do we learn from it?
1. There is a difference between short position when price follows a pattern (safest bet), short position when price bounces off its resistance zone (mid risk), short position when price establishes new HH (riskiest).
Something you have to take into account for your next orders to avoid mistakes like this.
2. FOMO or timing. Give it at least 2 hrs to develop. Identify the movement here (down, up, sideways).
3. Indicators. See if they support what you learned already.
3 simple steps that will help you avoid the mistake of opening a loosing position. --- As for today's WIF situation - I would not risk opening neither long nor short position.
RSI is at the top, but OBV still has lots of space to grow, SAR and BOLL are not in the best position either,. Let's wait.