Cryowar as a promising play to earn game on Solana 🚀🚀🚀Intro:
- Cryowar is one of the most promising new play to earn game on the Solana blockchain.
- Cryowar started trading on CEX and DEX at the same time.
- Check out their twitter page, the progress looks really promising.
- Since this coin got listed only recently we look at the hourly, so keep that in mind. Also take into consideration that price went up over 100% and FOMO is never a real solution. You maybe should wait for a pullback first.
Hourly chart:
- Price shows a strong rebound off the 1.3$ support level. The 2.3$ resistance was broken and tested as new support. Currently we are in price discovery mode ignoring the listing peak.
- Volume keeps increasing which is a bullish sign and shows growing interest.
- RSI analysis shows a possible consolidation phase. We touched the upper boundary which could suggest we take a breather before the next breakout.
- Moving Average: The 20MA cannot keep up with the price action. This could hint a consolidation until the MA's come closer.
- Support lines are at 1.3$ and 2.3$
- Resistance lines are currently non existant.
Expectation:
- Cryowar took a heavy hit during it's listing day and finally recovers after testing the 1.3$ line twice as support.
- The game is not even in Beta phase and already draws a lot of attention to itself.
- End of the year prediction: We will see a 9$+ Cryowar before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
