Pundi X Long-Term Accumulation Zone & All-Time Low (657% Target)
Pundi X is trading within an accumulation zone that is now more than 2.5 years old...
I hope this day is treating you well... Let's go straight to the analysis.
➖ PUNDI X vs Tether (USDT)
While a new All-Time Low has been hit recently, it is only a technicality. The ATL that was hit recently, in July 2024, is the same level that PUNDIXUSDT tested in May 2022, June 2022, November 2022 and December 2022; In June, August and September 2023, and recently in August 2024. As you can see, this is a very strong support level because all of the time it has been tested it continues to hold.
The ATL in July 2024 happened on a wick, the session close was much, much higher. In fact, the close was higher than all the mentioned lows since June 2022. This all translates into "long-term consolidation" or, we can call it a "long-term accumulation zone." Each time there is strong sellers into support, buyers are ready and waiting to buy everything up. That is why all the candles near this level has a long lower wick (strong buying).
The fact that this zone has been active and valid for so long opens the door for massive growth in 2025. More than two years of consolidation is a very long time in Cryptocurrency terms, and this gives strength to the buyers for the next bullish market phase.
We are looking at 468% to 657% potential for growth as shown on the chart, if we get a weak or medium-sized wave. There is potential for a new All-Time High also. Anything can happen... to the upside.
Remain open to, "it all turned out better than expected."
Thank you for reading.
Namaste.
I hope this day is treating you well... Let's go straight to the analysis.
➖ PUNDI X vs Tether (USDT)
While a new All-Time Low has been hit recently, it is only a technicality. The ATL that was hit recently, in July 2024, is the same level that PUNDIXUSDT tested in May 2022, June 2022, November 2022 and December 2022; In June, August and September 2023, and recently in August 2024. As you can see, this is a very strong support level because all of the time it has been tested it continues to hold.
The ATL in July 2024 happened on a wick, the session close was much, much higher. In fact, the close was higher than all the mentioned lows since June 2022. This all translates into "long-term consolidation" or, we can call it a "long-term accumulation zone." Each time there is strong sellers into support, buyers are ready and waiting to buy everything up. That is why all the candles near this level has a long lower wick (strong buying).
The fact that this zone has been active and valid for so long opens the door for massive growth in 2025. More than two years of consolidation is a very long time in Cryptocurrency terms, and this gives strength to the buyers for the next bullish market phase.
We are looking at 468% to 657% potential for growth as shown on the chart, if we get a weak or medium-sized wave. There is potential for a new All-Time High also. Anything can happen... to the upside.
Remain open to, "it all turned out better than expected."
Thank you for reading.
Namaste.
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