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Shapeshift FOX Token

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FOXUSD trade ideas

FOX - Ranges overview (update) As noted at the end of March for FOX...We are slowly but surely getting there. Let's see how we close the quarterly candle on FOX. All in all BTC is trying to hold its current lows and so does the rest of the crypto market. Overall plan on FOX remains the same until proven otherwise...so let's see how we play from here. Entry below 0.052$ TP 1 0.3022$ TP 2 0.4722$ TP3 0.6587$ SL below the current lows sitting around 0.0200$ (sand in the line) Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
COINBASE:FOXUSD
by Patrick2707
Shapeshift FOX TokenShapeshift FOX Token (FOXUSD) shows a clear struggle to reclaim higher price levels as observed in the multiple technical indicators and the recent price action. Despite a short-term increment of 2.73%, the price hovers at $0.08660, leaving market participants speculating on its next directional move. Technical Indicators: Ichimoku Cloud: The price remains below the Ichimoku Cloud, signaling bearish dominance. Resistance is anticipated at the cloud's baseline around $0.08985 to $0.11138. Should the price break above the cloud, it could signal a bullish reversal. Volume: Recent trading sessions show a declining volume profile, which suggests a lack of conviction among traders, likely indicating consolidation or accumulation phase. Relative Strength Index (RSI 14-day): Currently neutral at 44.76, indicating neither overbought nor oversold conditions. However, it trends downward, suggesting a weakening momentum. Moving Average Convergence Divergence (MACD): The MACD line is below the signal line and hovers near the zero line, denoting bearish momentum but with caution due to the lack of significant divergence. Stochastic Oscillator: The %K line is below the %D line and in the lower half of the range, signifying possible oversold conditions, but without a clear buy signal. Fibonacci Retracement: A significant retracement level at 0.236 (approx $0.10320) has been tested repeatedly, but the price has failed to maintain levels above, indicating strength in bearish sentiment. Pivot Points: The price action is between the P pivot point and the S1 support level, suggesting sideways movement without a clear directional trend. Moving Averages: Short-term moving averages signal a "sell," with the 10-day EMA at $0.08778 suggesting immediate resistance. Long-term moving averages (100 and 200-day) provide mixed signals, with some suggesting a "buy," indicating potential support below current levels. Price Action and Candlestick Analysis: Recent candlesticks show a high level of indecision with alternating red and green bodies, alongside short wicks, highlighting a lack of directional movement. The presence of doji-like formations points to market indecision. Price Prediction and Trading Strategy: Based on the technical readouts, a cautious approach is warranted. Potential Buy Signal: A confirmed break above the Ichimoku Cloud and a bullish RSI crossover above 50 may be an opportune buy signal, with an initial target of $0.10320 (0.236 Fibonacci level) and a stretch target at the cloud's upper baseline of $0.11138. Potential Sell Signal: Should the price fail to breach above the aforementioned resistance levels and RSI trend downwards below 40, a further drop to the S1 support level at $0.06120 may occur. A firm stop-loss just above the 10-day EMA at $0.08782 would be prudent to mitigate risks. Given the current market state, traders may opt to wait for a more decisive move beyond the Bollinger Bands' middle line or a stronger MACD crossover for confirmation before initiating significant positions. Strategy: Entry Point: A conservative entry would be on a pullback towards $0.07775 (0 Fibonacci level), with a tight stop-loss to preserve capital. Take Profit: Consider taking partial profits at the $0.10320 mark, with the option to re-evaluate if the market sentiment improves and technical indicators align for further bullish momentum. Stop-Loss: Positioning a stop-loss slightly below the $0.07775 level could help in case of a sudden downturn, minimizing potential losses. Conclusion: The FOXUSD pair presents a delicate balance between bearish control and potential bullish reversals. Traders should monitor the confluence of indicators and pivot points closely for a stronger indication of future price direction, and always consider the broader market context before making trading decisions. Trading is speculative, and capital exposure should always be managed with a clear risk management strategy.
CRYPTO:FOXUSD
by AxiomEx
FOX - Ranges overview Interesting on FOX in all honesty. More or less following BTC and the overall market but at its own pace as you might have noticed. Personally looking to see how we open for the month of April and how we trade in the first two weeks to decide where and when I want to get involved. This will be a long term trade so PATIENCE will be key. IF we retrace towards the liquidity sitting around 0.052$ - 0.0200$ and hold around these levels (no clean break below) I will look to open long positions targeting the buyside sitting around 0.3022$, 0.4722$ and 0.6587$ IF the market decides to go from here and start the 'bullrun' everyone is expecting and eagerly awaiting we will look for continuation plays. Entry below 0.052$ TP 1 0.3022$ TP 2 0.4722$ TP3 0.65.87$ SL below the current lows sitting around 0.0200$ (sand in the line) Let's see where the MARKET wants to go. No need to project your ambitions and wills on the market.. LET THE MARKET SHOW YOU ITS HAND Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
COINBASE:FOXUSD
by Patrick2707
FOX - Looking to make a move or dead cat bounce? This is what I would consider a short term in and out swing trade. FOX recently rallied from 0.03 all the way to 0.14 gaining almost 400% in basically a month. It has since corrected over 50% from the top and it is starting to show signs of a possible reversal. Lower times frames have been showing some bullish divergences. 4 hour time frame MACD is also looking to flip into the green side. Based on the current market conditions and recent price action on FOX I would expect at the very least a run up towards the 0.10-0.12 area. I will personally be exiting my position at that area. Have any chart to share for FOX? Drop it down below :D
COINBASE:FOXUSDLong
by DenseCapital
The return of the FOXShapeshift was originally founded by Erik Voorhees as ShapeShift AG, but then became the first company to decentralize and become a DAO. Currently, Shapeshift is participating in the success of RUNE and the increasing move from centralized exchanges to decentralized exchanges after the collapse of FTX. Shapeshift is a cool project by itself but there is another thing happening under the radar, to decentralize node data Shapeshift has teamed up with part of the RUNE team to spin off Arkeo. It will be a new project launched on Cosmos and a large part of the initial supply will be airdropped into the Shapeshift treasury. Arkeo is expected to be launched in Q1 2024. Given FOX's low market cap of around 15 million and the success of the launches on Cosmos and the good story and use case of Arkeo as a decentralized version of Infura, FOX seems to become a proxy play on Arkeo. Together with the hype around RUNE, the FOX should come back. The chart shows a large round W bottom with some overhead supply around $0.04, but I am optimistic that it can be broken while undergoing a revaluation. DYOR, it's an illiquid micro cap.
COINBASE:FOXUSDLong
by koryu
1
Potential Short-Term Reversal Opportunity for Shapeshift FOX Tok Analysis: The Shapeshift FOX Token (FOX) has experienced significant price movement in the past 24 hours, with a notable 25.27% decrease in value. The current price is $0.027131 USD, and the 24-hour trading volume stands at $6,736,631 USD. The cryptocurrency is ranked #748 on CoinMarketCap, with a live market capitalization of $10,232,471 USD. The circulating supply is 377,154,162 FOX coins out of a maximum supply of 1,000,001,337 FOX coins. Key Points: Short-Term Downtrend: The recent 25.27% price drop suggests that FOX has been under selling pressure. This could indicate a short-term downtrend. Support and Resistance Levels: The current price could be near a potential support level, which might lead to a temporary price rebound. Market Sentiment: The significant price decrease might attract short-term traders looking for a quick rebound, potentially leading to a price bounce. Volume Analysis: Pay attention to trading volume as it could provide insight into the strength of the current price movement. An increase in volume during a potential rebound could signal stronger buying interest. Trading Plan: Entry: Consider a speculative long position if the price shows signs of stabilizing around the current support level. Look for bullish reversal candlestick patterns or a decrease in selling pressure. Stop-loss: Set a stop-loss just below the support level or a recent swing low to mitigate potential losses if the price continues to decline. Take Profit: Take partial profits if the price rebounds, and set a target based on a short-term resistance level or a percentage gain that you're comfortable with. Risk Management: Given the recent price volatility, use a smaller portion of your trading capital and manage your risk accordingly. Timeframe: This trading idea is focused on short-term potential opportunities, so monitor the price action closely and be prepared to exit the trade if conditions change. Important Note: Cryptocurrency markets are highly volatile and can be influenced by a variety of factors. Make sure to stay updated on relevant news and market developments. This trading idea is based on the provided article and focuses on potential short-term trading opportunities. Always conduct your own research and consider combining technical, fundamental, and sentiment analysis for a more comprehensive trading strategy. Please note that market conditions can change rapidly, and trading cryptocurrencies involves inherent risks. Be cautious and use proper risk management techniques when executing any trade.
COINBASE:FOXUSDLong
by DrillThatCrypto
5