✴️ Polymesh | Which To Choose? While Some Grow, Others RetracePolymesh is another one that closed weekly above EMA50 —but there is a catch; We have mainly two sets of Altcoins including many variations. One set are those that grew strong in 2023 and the other set are those "left behind."
While POLYXUSDT is now above EMA50, it grew more than 350% from August through October 2023. This means that on a marketwide correction it can be part of those that move down before going up.
➖ Notice how weak is the volume as the break above EMA50 takes place (last two weekly sessions.)
➖ If you consider COTIUSDT, a trade idea I shared minutes ago, the trading volume as it moves above EMA50 is really super high.
That's the difference.
Both can grow but COTIUSDT has higher probability that POLYXUSDT at this point. This is only based on the short-term. Long-term both are set for sustained growth.
➖ I hope this is not confusing but just know that while some go down, others go up.
➖ While some hit bottom, others can hit multi-year highs.
➖ While some consolidate near resistance others can be performing a retrace.
The market is big now, so not everything moves together at the same time; Allow for variations to take place.
The bigger picture is bullish all across in the year 2024.
Corrections and retraces are a normal part of market action and only temporary, the end result should be and will be higher highs and higher lows.
Namaste.
