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SHADOW TOKEN / TETHER
Long

Long Shadow Token

By stewdamus
Updated
Another little gem on the Solana network is Shadow. While all the Layer 2 coins have had their chance to pump, Shadow has really waited patiently behind the scenes. Not many people know about it because it's not listed on any of the CEX's. I used Jupiter (a Solana Dex) to get mine. Anyway, I think SHDW could pump soon. I am setting my target to around 2.40, taking profits along the way at the various levels I have drawn. My stop out will be just under that blue ascending TL. This gives me an RRR of around 3/1.

Best,
Stew
Note
Early this morning I bought SHDW. I then went back to bed for a few hours and woke up to notice the pump had already started. Cool. But I am also starting to observe some weakness in the crypto market. Bitcoin may simply be forming a lower high (we’ll have to watch for that closely this next week) and starting a bit of a downtrend. I’m noticing the same can be observed on many of the altcoin charts. Here, on SHDW, you can see we went quickly up to that first descending TL and then got stuck. That’s a sign that we may not have enough bullish strength to break upwards. I sold half here. I’ll take my 10% profit and let the rest play out.

Stew

snapshot
Note
I’ve opted to take another 50% off the table here at a second resistance point. I sold another 1/2 at 1.60 and have raised my stops to break-even. I will let the rest ride to final target or stop out as I trail it.

snapshot
bullishpatternChart PatternshiddengemTechnical Indicatorsl2longsetupshadowshadowtokenshdwsolanasolanacoinTrend Analysis
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