Will Reddcoin deliver a pleasant spring surprise?Reddcoin has delivered some spectacular returns for those who got in before the price explosion in December 17. The chart has been very messy but I wonder if an ascending triangle is forming?
It will be interesting to see whether it follows the price path I've drawn out here and if so, the intensity of the breakout.
Reddcoin
RDD Bouncing off the 50 EMA again?Looking at the graph there is a small pennant starting to form and we are also getting very close to the 50 EMA.
So I would expect a small bounce in the next day or two
I would buy some now and try a few more at 92.
Then aim to sell 50% at 106 and the rest at 109
This coin is definitely on a down trend for the foreseeable future, so I would be careful to expect too much out of a week-end bounce.
No good signs for ReddcoinAs you can see very clearly, Reddcoin repeats the same process as on June 2017, which is common in the crypto market.
Even if I feel sorry for any fan of Reddcoin, technically it will not look good for you for a long time - especially because Bitcoin will also correct.
However, it must also be admitted that the value of a Reddcoin is currently much too high. A correction is needed, no matter how good the coin may be.
It is your decision to keep this coin or not, at least I will not touch it for a long time.
For now I can say that our entry point is at about 40-50 SAT, which may change in the long time.
Nevertheless, I wish you good luck - open your eyes and do not be greedy or you will lose.
Caution with ReddCoin (RDD)! Why are you still holding?ReddCoin was a money factory for those, who just went with the train. Unfortunately, it had the same pattern before. If we project the same pattern from before, then there will be a big crash. This would fit to consolidation after hugh pump just recently.
The indicators show the same pattern. They are still quite high.
The coin doesn't seem to have any serious development the next months. Only one at end of march which might also fit to downtrend.
Have luck
(RDD/BTC) - Buy opportunity- This idea is based on moving average
- Long term trend: up (hovering around MA100, good time to buy with tight stoploss)
- Medium term trend: down
There is a chance it drops down to ~115 (at .618), set stoploss at 110.
Target is 250 based on fib retracement.
*Keep in mind: MACD does not look pretty at the moment, but we shall see.
ReddCoin Is So CheapReddCoin is one of those new coins that is still very cheap. Technical analysis can help to determine whether the value will rise or not. And looking and ReddCoin it certainly has a strong growth potential considering the current price action.
First of all, it has started producing higher highs and higher lows. Then, on a corrective wave down it rejected the uptrend trendline and moved higher again, rejecting the second uptrend trendline. Currently, RDD/USD is trading just above the support area that is near $0.02. Price could go higher to test one of the Fibonacci retracement levels applied to the previous corrective wave down. Strongest resistance is seen around $0.07, but break above could send it even higher. Only a break and close below the $0.008 could invalidate bullish outlook.
Reddcoin - Long-setup & TargetsSo, it's time to start a new Reddcoin post. I was saddened to see that Reddcoin lost it's momentum and there was a verified wave 1 months ago that validates this as a complete 5 wave structure.
I'm expecting this to correct for the next month or so, I'm also expecting this to correct in the form of a wedge. I will only activate the trade if it remains in our Bullish zone on the Daily RSI over that time. But I'm expecting this correction to take us near the 1 cent mark once again. The MACD is diverging bearishly, and it is likely to finish correcting when the MACD is on the way back up. But I do not expect this correction to be all that quick.
I will activate when I enter.
RDD 330% Potential ProfitBest time to accumulate more RDDs now! Don't forget to join the ride ;)
Trade at your own risk.
"Don't worry, Be Happy!"