Polymath entering accumulation phase
Updated
Price Analyis:
Polymath indicates to be in an accumulation zone. The daily and 4H MACD and RSI have higher lows and are trending upwards. There is also high volume in the past few days signalling accumulation.
The price may lower a bit further but not much as the market cap is very low (~11Million) which is way below their ICO raise (~200 Million).
Fundamentals:
Polymath is aiming to be a one stop shop for Security Token Offerings (STO) which is a multi-trillion dollar industry. STOs will be the next booming thing similar to what happened with ICOs in 2017.
In addition, IOHK & Cardano founder Charles Hoskinson has taken the role of chief architect of the Polymesh blockchain product which is a STO focused blockchain built by the Polymath team. Polymath token holders will be able to exchange to Polymesh tokens in a 1:1 ratio once Polymesh is up and running (projected release around Q2 2020). The projected release of Polymesh falls around the time of with bitcoin halving. This could lead to massive retail and institutional participation in the cryptoverse ( non-bitcoin projects) and drive the Polymesh coin to a multi billion marketcap.
For short-term traders:
Targets:
1. 430 sats
2. 500 sats
3. 560 sats
*Note: These are speculations. Do not use this as financial advise. Please do your own research.
Polymath indicates to be in an accumulation zone. The daily and 4H MACD and RSI have higher lows and are trending upwards. There is also high volume in the past few days signalling accumulation.
The price may lower a bit further but not much as the market cap is very low (~11Million) which is way below their ICO raise (~200 Million).
Fundamentals:
Polymath is aiming to be a one stop shop for Security Token Offerings (STO) which is a multi-trillion dollar industry. STOs will be the next booming thing similar to what happened with ICOs in 2017.
In addition, IOHK & Cardano founder Charles Hoskinson has taken the role of chief architect of the Polymesh blockchain product which is a STO focused blockchain built by the Polymath team. Polymath token holders will be able to exchange to Polymesh tokens in a 1:1 ratio once Polymesh is up and running (projected release around Q2 2020). The projected release of Polymesh falls around the time of with bitcoin halving. This could lead to massive retail and institutional participation in the cryptoverse ( non-bitcoin projects) and drive the Polymesh coin to a multi billion marketcap.
For short-term traders:
Targets:
1. 430 sats
2. 500 sats
3. 560 sats
*Note: These are speculations. Do not use this as financial advise. Please do your own research.
Note
Correction: Charles is the co-architect.Trade active
Key resistance at 350 sats broken. It is most likely going up further.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.