🔻 The price has dropped around –96% from its all-time high.
That doesn’t guarantee a bottom — but further downside is no longer a given.
🚫 Opening shorts in this zone looks questionable,
especially considering the broader altcoin market structure.
📊 A more strategic approach would be to trade from the average price,
targeting a potential return to key resistance levels.
🎯 A bullish scenario points toward a move to the top of the channel,
with a potential +100% upside from current levels.
🪙 Worth noting: a major token unlock took place back in April —
those tokens are already in circulation, which reduces selling pressure.
📌 Still, a drop to the lower channel support can’t be ruled out —
this area should be considered in any risk-managed strategy.
That doesn’t guarantee a bottom — but further downside is no longer a given.
🚫 Opening shorts in this zone looks questionable,
especially considering the broader altcoin market structure.
📊 A more strategic approach would be to trade from the average price,
targeting a potential return to key resistance levels.
🎯 A bullish scenario points toward a move to the top of the channel,
with a potential +100% upside from current levels.
🪙 Worth noting: a major token unlock took place back in April —
those tokens are already in circulation, which reduces selling pressure.
📌 Still, a drop to the lower channel support can’t be ruled out —
this area should be considered in any risk-managed strategy.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.