SUSHI-USD (DEFI)
Updated
Greetings,
I continue to watch DeFi projects, which after the September hippe has become much cheaper, so far made two trading ideas, YFI and Maker. The YFI idea is going well, you can find them in the attached ideas.
After the start of trading of this crypto currency, which at its peak reached $ 10, not counting the short-term rises up to $ 15-16 at some exchanges, the price fell by 95%, September and early October was the distribution of coins to naive buyers, in the range of $ 1.5-3 were the largest volumes, and the majority of buyers left with coins bought at these prices or higher. Then the price reached the bottom of $0.5 and at this price the instrument became interesting to the buyers again; we see it in the growth of price and vertical volumes, the price grows almost vertically without kickbacks.
Now, an uptrend, a diverging triangle may form, and the price has overcome the strongest resistance at 1.40-1.5 and is now fixed higher.
My opinion is that the price can be brought up to the price zone 2-2.10, after which some players will fix profits from the position they gained at $0.5-1. In this scenario, the price will test the previous resistance zone of 1.4 in case of a break-down, the next support is the trend zone and the horizontal price zone of 0.9-1.1$ at this price, you can watch the break-down and look for the entry point when the support is confirmed. In case of further uptrend development, the targets can be determined by horizontal volumes and non-standard bars - 3.2, 5, 8.7$.
Always use Stop Loss, and do not use a leverage greater than x3.
A trader should always have tomorrow.
If you find the information useful, take a liking and sign so you don't miss anything.
I continue to watch DeFi projects, which after the September hippe has become much cheaper, so far made two trading ideas, YFI and Maker. The YFI idea is going well, you can find them in the attached ideas.
After the start of trading of this crypto currency, which at its peak reached $ 10, not counting the short-term rises up to $ 15-16 at some exchanges, the price fell by 95%, September and early October was the distribution of coins to naive buyers, in the range of $ 1.5-3 were the largest volumes, and the majority of buyers left with coins bought at these prices or higher. Then the price reached the bottom of $0.5 and at this price the instrument became interesting to the buyers again; we see it in the growth of price and vertical volumes, the price grows almost vertically without kickbacks.
Now, an uptrend, a diverging triangle may form, and the price has overcome the strongest resistance at 1.40-1.5 and is now fixed higher.
My opinion is that the price can be brought up to the price zone 2-2.10, after which some players will fix profits from the position they gained at $0.5-1. In this scenario, the price will test the previous resistance zone of 1.4 in case of a break-down, the next support is the trend zone and the horizontal price zone of 0.9-1.1$ at this price, you can watch the break-down and look for the entry point when the support is confirmed. In case of further uptrend development, the targets can be determined by horizontal volumes and non-standard bars - 3.2, 5, 8.7$.
Always use Stop Loss, and do not use a leverage greater than x3.
A trader should always have tomorrow.
If you find the information useful, take a liking and sign so you don't miss anything.
Note
Note
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