Hoping with the volume on the prior run this is ready, so far price is holding this level as a new support and squeezed against downtrend resistance now too. Bollinger bands squeezed inside Keltner Channels on 1h indicating an upcoming move, RSI rebounded, Stoch/Stoch RSI are pointing up and MACD close to a cross.
Not overly ambitious targets, just looking to next fibs right now. Buy on a break of resistance trend, and stop just below the lows of the short term consolidation or as low as 535 if you prefer more space (calculate your position size and risk accordingly). History shows these bull flags break down often on SNT so don't jump in too early.
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Bad timing with BTC's move. Tried to break up and failed to hold, now looking for 535 to become a new support level.
What do you think about GNT, FUN & XVG? @Trader-Elisa
Trader-Elisa
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@Zenter, Funny you pick 3 coins I basically never chart! FUN and XVG last I looked just remain overall downward trending, has that changed lately?
GNT is better and good for scalping most likely, but again looks held consolidating in a range... I'll have a quick look.
@Zenter, Yeah FUN and XVG I still wouldn't touch, yes they are low but they are low sat coins which I don't like trading as I don't have enough precision in getting in and out, and also may go sideways forever! I would only buy if there was a clear change in trend.
GNT on the other hand looks better, but still an issue with timing. If you don't mind holding, this is a reasonable buy level, and it is making higher lows with a possible new trendline. When it does pop it will likely go hard as there is free space up to the highs in December (i.e. not much resistance between) but it has to get past this major range first.
Zenter
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@Trader-Elisa, thanks for your replies and very nice analysis <3