Let’s take a look at near & $ALGO (just an example)
$NEAR is obviously a very strong coin that’s currently trading above the 0.0.618 Fib
$ALGO is a weak one because it hasn’t broken above the 0.382 Fib (currently trading even below the 0.236)
If you’re holding some ‘weak’ coins, don’t rush to sell them to buy strong coins like $NEAR at the current price. However, holding weak coins might be depressing for quite some time until they start catching up 📈
The highest I can see $ALGO go is 0.786 Fib ($1.40) - 660% profit from here
The highest I can see near go is 1.272 ($48) - 480% profit from here
As we can see $ALGO can bring you more profit even though it’s a weak coin and $NEAR is a strong one.
⚠️ This is not a call to go sell Near and buy $ALGO.
I keep holding my near bag and not planning to sell it anytime soon. I think near will be a much better hold at least from the psychological perspective and maybe it tops out first.