Textbook price action for Benqi
a further dive into low cap gem Benqi, a defi platform running on Avalanche (which is a very trendy coin right now and thus infrastructure coins on AVAX will follow) with a market cap of just 180 million usd. As we can see from the price action it has been in an accumulation phase since late August and consolidated beautifully in the lower order block. (brown) It is now starting its first of five impulse waves and right now coiling up for the breakout move beyond the downwards sloping resistance. I expect a move inbound soon beyond the second order block (light brown) towards the 0.618 extension, if it can consolidate in the upper (green) order block; a 250% move is in the making, with a potential towards a 470% breakout. I like low caps! :)
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
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