PUNDIX - Rise from a Low? Possible!
Updated
So in this post I am looking at the token price from a fundamental perspective, rather than technical.
Ever since PundiX has decided to transform/rebrand their token from NPSX to #PUNDIX, with a reduction of the total token amount from 258,498,693,019 to 258,526,640, it has been trading at a low - and I see that actually as a good opportunity.
PUNDIX is providing real products: Their #XPOS solution and devices are distributed in 30+ markets including the United States, Spain, Argentina, Korea, Australia, Colombia, Spain and Taiwan. They are constantly shipping/selling more devices and the demand is growing.
Their blockchain solution enables easy payments with the XPOS device. Retail merchants, as well as consumers, can easily buy, sell and transact using digital assets in physical stores. The product is designed to accept every cryptocurrency. Popular digital assets like Bitcoin (#BTC), Ethereum (#ETH) and PundiX (former NPXS) are listed within the ecosystem.
For a short technical analysis: In the chart you can see that a low around 3,58$ has been working as a support (this can also function as a Stop-Loss). Other following lows did not even touch that level (3,66$ and 3,67$).
My profit taking (PT) levels:
4,243$
4,541$
5,602$
6,805$
9,686$
Remember to set PT levels a bit lower, since 90% of the time first touches of levels get rejected, with price falling to a close support level, where you can re-accumulate.
In conclusion: With a lower total amount of tokens, real products with real value and increasing demand: You do the math :)
- This is no financial advice, so trade with care! -
For transparency reasons: As of yesterday I am invested in PUNDIX with 1/15 of my total portfolio size.
Ever since PundiX has decided to transform/rebrand their token from NPSX to #PUNDIX, with a reduction of the total token amount from 258,498,693,019 to 258,526,640, it has been trading at a low - and I see that actually as a good opportunity.
PUNDIX is providing real products: Their #XPOS solution and devices are distributed in 30+ markets including the United States, Spain, Argentina, Korea, Australia, Colombia, Spain and Taiwan. They are constantly shipping/selling more devices and the demand is growing.
Their blockchain solution enables easy payments with the XPOS device. Retail merchants, as well as consumers, can easily buy, sell and transact using digital assets in physical stores. The product is designed to accept every cryptocurrency. Popular digital assets like Bitcoin (#BTC), Ethereum (#ETH) and PundiX (former NPXS) are listed within the ecosystem.
For a short technical analysis: In the chart you can see that a low around 3,58$ has been working as a support (this can also function as a Stop-Loss). Other following lows did not even touch that level (3,66$ and 3,67$).
My profit taking (PT) levels:
4,243$
4,541$
5,602$
6,805$
9,686$
Remember to set PT levels a bit lower, since 90% of the time first touches of levels get rejected, with price falling to a close support level, where you can re-accumulate.
In conclusion: With a lower total amount of tokens, real products with real value and increasing demand: You do the math :)
- This is no financial advice, so trade with care! -
For transparency reasons: As of yesterday I am invested in PUNDIX with 1/15 of my total portfolio size.
Trade active
Who caught the dip? :) Something strange was happening just a few minutes ago and there were prices plummeting down, which can be seen as a buying opportunity to average down your initial purchase price - at least that is what I did.That is why I can only recommend to never be fully invested, but keep at least 2/3 of your account size for buying the dips.
I am now invested with 2/3 of my account size in various cryptos (PUNDIX as well) and have 1/3 for potential dips.
-This is no financial advice, so trade with care!-
Trade active
How did the dip work out for most of you?A word of advice:
When you do a technical or fundamental analysis you always have to manage risks and weigh in the possibility that some whale will try to push the BTC price down, which can lead to a massive drop in altcoins, as well.
My playbook for this scenario is the following:
My initial buy in for PUNDIX was at 3,71$ with 1/10 of my portfolio.
Luckily I was awake when the big drop happened and when my PUNDIX was at -27% I doubled down, meaning: I took the same amount that I had invested before from my buffer cash and bought more PUNDIX at 3,19$ (the exchange had massive issues, so I could not buy in any lower). However, this method averaged my holdings from -27% to -8%.
Usually the price will jump back up a little (dead cat bounce), but you don't want to take all of your buffer cash to buy dips - you cannot anticipate how extreme a wave can be.
Now my total purchase price per PUNDIX went down from the initial 3,71$ to 3,435$. As soon as the price travelled back up, I sold some of my PUNDIX so that I got my invested buffer cash back, more PUNDIX accumulated than initially and my purchase price per PUNDIX is now at 3,435$ instead of 3,71$.
If another drop should occur (>-25%) I will repeat the steps above and be able to further average down my purchase price per PUNDIX and have accumulate more PUNDIX in total.
Why I did not sell all of the PUNDIX when I was back in the green? Because this company has real value and a low circulation of tokens that will be reduced periodically :)
-This is no financial advice, so trade with care please!-
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