ENTANGLE/USDT - Swing Position
Date: 09/12/24
Name: Entangle/USDT
Market cap
$78.4M
1.39%
Volume (24h)
$467.2K
36.02%
FDV
$115.53M
Vol/Mkt Cap (24h)
0.6001%
Total supply
843M NGL
Max. supply
843M NGL
Circulating supply
572.11M NGL
Daily Time Frame – Swing Position – Long!
Reasons to be Bullish Case:
1) Structure: Overall trend is bullish, Trending.
2) Current phase: Break of structure, and continuing the uptrend
(4) Internal: Structure Shift towards upside, Pull Back done, uptrend continuation, internal Shift, ready to sky rocket.
(5) Important Key notes: .
- Relatively new project for this bull cycle, Great fundamentals, overall uptrend since launch. Quite bullish. Needs a catalyst to sky rocket.
- Currently holding Previous resistance as its support and key level on Daily Time frame
Worst case Senerios:
4) Bitcoin is currently at All time high, liquidation flush remaining ($75k – $80k)
5) Due to liquidity generated and Demand zone sitting below.
6) if $0.95 is not hold, then we can see further buying opportunities on marked point of interests.
7) Invalidation – $0.11
Trade Plans:
BUY CMP: $0.1566
DCA: NYSE:CMP – $0.11
Invalidation: 0.11
Trend Based Fibionacci Targets:
Target 1: $0.784
Target 2: $ 1.539
Target 3: $ 2.47
Target 4: $ 3.046
Targer 5: $ 3.97
**This is not a financial advice, these are my personal trade journals, Do your own research before taking any action. **
NGLUSDT trade ideas
NGL will "Not-Gonna-Lie" - 50% Move InboundNGL has been trending downward since early morning, but recent activity hints at a significant shift. For approximately 80 days, NGL has been in an accumulation phase, but a closer look suggests something more promising.
On the daily timeframe (TF), a reversed Head & Shoulders (H&S) pattern appears to be unfolding, with a breakout (BO) forming a Higher High (HH). Resistance has been found at $0.1129, potentially marking a Higher Low (HL) or signaling another move in the making.
The price is currently bouncing off the neckline of the H&S. If we hold above $0.09 with two more healthy candles, NGL could be on track to reach $0.134—a 50% move from the current level. Additionally, NGL is showing strength, bouncing from the 50 RSI.
Key Levels to Watch
Blue Line:
Indicates a quick upward move, with a short-term stop at $0.1129 before pushing for a new HH. This would signal a potential early reversal and pave the way for higher prices.
Yellow Line:
Suggests a slower trajectory, indicating more consolidation before an eventual move upward. Slow and steady often wins the race, offering sustainable growth.
Red Line:
Represents a golden opportunity to accumulate. If the price breaks below $0.09, a retest of $0.06 could be in play, forming another HL and offering buyers another entry point.
Conclusion
Patience and a steady mindset are critical. The setup looks promising, but as always, managing risk is essential. NGL seems poised for an exciting move—stay prepared!
NGL Update 1.2 (70% raw gains are coming....again)A new day means a new update! Take a look at our NGL chart, what did I say? 70% raw gain and $0.8 hit hard! 🥂
As predicted NGL hit our target of $0.8 a couple of days after the latest update but what will happen now? As you can see we got a strong move to the downside and haven't made a new high since June 7, is this normal? It's more than healthy to get a pullback like this.
On the 4H RSI is oversold with a volume that have more mood swings than your girlfriend on a bad day. A potential double bottom could be forming making a HL before moving upside again, as for now this would be a good opportunity to fill your bag up before our 2nd move start.
BTC looking very good too and still hold its base while BTC.D keeps falling, June will let the fun begin for ALTS soon💐
As from the latest update our prediction favored the red line which we're in line with now, but what can we expect from here?
There's 3 possible scenarios:
Blue Dotted line:
This will be a quick upside move penetrating through our ressistance at $0.589 making a short time base between our next resistance at $0.725 and our minor resistance. If this has to happen we would like to see some daily healthy candles holding above the resistance and flipping it to our new support ( $0.725 ) to confirm that its not a fakeout.
Green Line:
This would be a healthier move to the upside breaking our resistance at $0.589 to meet our minor resistance and form a healthy base at our new support. If we can stand our ground i believe we will get a round 2 of funny times but before that $0.725 needs to be broken.
Red Line:
There will always be a possibility for more downside which necessarily isn't bad, if thats what comes next we could see a possible double bottom making a HL before we shoot our way up. Making a good base here would also be healthy to secure a stable BO in the future for NGL.
As always, we know where this golden nugget is going, BORPA airdrop is also on the horizon...
Don't fade NGL, the time is now...
Take care🔮
NGL Update 1.1 (The Underdog Taking Over)After the recent fall from NGL we've been bouncing around our support at 0.52455 which could indicate a possible bottom.
Volume is falling too while BTC is holding its ground. As volume falls from NGL while the price moves up could possible mean and indecision from retailers waiting for some news.
RSI has been holding above 50 for 2 consecutive days which may indicate that buyers are slowly stepping in and taking control over bears.
At this time we have 3 scenarios:
Blue line
A move above our 4H Strong High while a retest of its new base will may start a new uptrend and a possible bottom will be in. The next challenge here will be our resistance while we'll be looking for a LH to see our uptrend continue to our first target at $0.8.
Green line
This will indicate a move above our 4H Strong High but a sideways movement between our Strong High and Resistance may occur for while. If we manage to stay there with some healthy 4H or daily candles then this will get the fuel going and start our uptrend to $0.8
Red line
Following the red line this will be a healthy pullback and maybe set our coming leg in for a LH before we're moving our way up to $0.8
In the long term I see a bright future for Entangle and as for now... an underdog in the market of gains...
Take care🔮
Could we see a possible bottom?Looks like a falling wedge to me
Daily is near oversold on RSI
4H is already oversold
Next resistance from here is a 35% move to the upside
For now, lets wait and see if there will be any double bottom formation or a quick recovery to the upside.
Tomorrow will be important as CPI is coming out.
Now will be a good buy for a great entrypoint
Hope y'all like this idea
Remember
This is no financial advice, take care🔮
NGL token The token delivered minimal fluctuations and witnessed consolidation on the charts. Amidst the up move in the beginning, there is no follow on buying momentum exhibit and the token hovered around the $2 mark for the past sessions.
