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NMRUSD

🎲NMR - Accumulation at support, highs from 2017Although I always try to keep my charts clean, sometimes it's just not possible. The current situation on $NMR is an example. It's actually even more complex, because NMR is an old coin, it was first listed in 2017, but you won't find those charts on TradingView. -- 👇👇 I'm not allowed to post links here, but please read the comments to see the full 2017-2021 view. 👇👇 -- Let's start with dynamic resistance: There are so many wicks it is hard to set just one true resistance trendline, so I drew three. Now: - if we follow the orange-dotted trendline, the narrative is the price already broke the dynamic resistance - if we follow the blue-dotted trendline, the narrative is the price is at max squeeze spot and is about to break out - if we follow the purple-dotted trendline (highest wicks), the narrative is the price is still inside of the formation You can also treat all three as an area. But the way I approach this, is that no matter which narrative is the "real one". The fact is that the price just recently bounced of horizonal support area(green) and is being supported by dynamic support (orange); it also broke out of local descending channel(blue, you can see it on lower timeframes) and that's what matters now. We can soon expect the price to try break above key level & 200EMA, and if that happens we'll see where it may go from there. If current levels fail to hold, the next support area is between 33.86 - 31.84 (blue) Entry: buy at current price down to horizonal support area (green) Targets: 41.38 43.57 45.41 49.46 52.89 59.34 67.53 78.40 88.95 97.78 ------------------ About NMR: Numerai is an Ethereum-based platform allowing developers and data scientists to experiment and create machine learning models with improved reliability. The platform’s main goal is to bring decentralization to the data science field and allow developers to compete in creating effective machine learning prediction models. Founded in late 2015 in San Francisco, Numerai claims to be the first hedge fund to launch a cryptocurrency on the market. Unlike traditional hedge funds, however, Numerai relies on the data and predictions produced by tournament participants to participate in the stock market. They claim to be the first hedge fund to use machine learning so heavily in its investment strategy. Source: coinmarketcap
Long
by V0VOLAN
1
Numeraire is showing a lot of strenght. Potential easy 2x ahead!NMRUSD on Coinbase just broke its previous high since its listing. It has been a massive under-performer, but usually has had massive spikes. I can't see how some coins on Coinbase will not pump a lot at all. Currently it is essentially at a 2x from its bottom vs BTC and could easily do another 2x from here. It has a quite special chart both vs USD & BTC and when it got listed on Coinbase it also got listed on Binance and a few days later on OKex. Prior to that it was only listed on smaller exchanges. The fact that it has performed so well amidst the market carnage is also a great sign that something big might come. s3.tradingview.com s3.tradingview.com
COINBASE:NMRUSDLong
by BitcoinMacro
$NMR broke out.As per my previous update, $NMR has broken out and it is now a matter of time before we start seeing triple digit prices. While traditional cup & handle scenarios lead us to calculate price targets by adding up the resistance line and the difference between the resistance line and the bottom of the cup, I am sure such methods lead us to very conservative targets in cryptos. I actually focus on logarithmic scales and would expect that this breakout should lead to a price target of mid-triple digits. Needless to mention that price action is always subject to change hence we keep an eye on the HTF indicators.
NLong
by Birdseye88
6
$NMR is a matter of patience.This year I have seen so many cryptos blow up. And it's really hard to figure out when to sell. The reality is that I'll never get it completely right, but I do take 50% off the table once I see an opportunity to do so. I then scout the market for cryptos that have not yet seen those amazing returns. Once I see altcoins that have consolidated and are gradually turning bullish and ideally, they have a nice traditional charting pattern, I invest & wait. Such charting patterns could be inverse head & shoulders, cup & handle or long-term breakout & backtest. A nice example of a bullish cup & handle setup is Numeraire, where we are very close to the old highs. Once this breaks out, we can see great returns. It could take some time and you may therefore want to wait for a breakout.
NLong
by Birdseye88
1
Numeraire formed a cup and handle patternHello traders, We are looking at the 1 day graph of numeraire. As we can see, a cup and handle pattern has formed. The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. We could see a spike up in the next coming days. Numerai (company) and the Numeraire token are unique in terms of the idea behind their creation. According to coinmarketcap, this is reportedly the first cryptocurrency to be created and released by a hedge fund. Furthermore, one of the main benefits of the NMR token is that it is awarded to data scientists whose models perform well in the Numerai tournament (Numerai has created one of the largest global data science tournaments). This means that the token becomes more valuable as more people enter the tournament and start competing. This is not financial advice, I am not an financial advisor. Thanks.
NLong
by Aroundthesun