WAGYUSWAP Technical Analysis & Trading Plan by Blaž FabjanWAGYUSWAP Cryptocurrency Technical Analysis & Trading Plan
WAGYUSWAP is currently at a very low market cap, presenting an exceptional opportunity for investors. As the primary exchange for the Velas ecosystem, it holds significant promise. Velas is undergoing a transformative fork from Solana, which will bring vast improvements to its blockchain. When the fork is completed and fully developed, the price of WAGYUSWAP is expected to skyrocket, potentially creating significant returns for those who invest now. This is a rare opportunity to position yourself for massive gains. Not a financial advice :)
Technical Overview
The chart above shows the price action of WAGYUSWAP paired with Tether (WAGYUSDT) in a 4-hour time frame. Currently, the cryptocurrency is showing a strong ascending trading channel, indicating an ongoing bullish trend.
Key Indicators:
Volume Analysis: The volume indicator shows increasing buying activity, which is a strong sign that the market is gaining momentum. Currently, the volume is 69.194K, which is healthy and showing interest in the coin.
RSI (Relative Strength Index): The RSI is currently at 66.94, which is just below the overbought zone. This suggests that while the market is in bullish territory, there is still room for upward movement before it reaches the overbought condition. This is a good sign for further upside potential.
Stochastic Oscillator: The Stochastic indicator is sitting at 67.93, indicating a potential continuation of the uptrend. A reading above 60 often signals a strong bullish trend, further confirming the current bullish sentiment.
Money Flow Index (MFI): The MFI is currently at 36, which is low but shows the potential for a reversal into positive territory. This suggests that the market is likely to see inflows, further confirming the buying interest in the cryptocurrency.
VMC Cipher B Divergence: This indicator is showing some promising signs of continued upward movement. The green dots indicate bullish divergences, which suggest that buying pressure is building and could result in higher prices.
Price Action and Trend:
The price is moving in a well-defined ascending trading channel, with a breakout likely imminent. The market has just tested the lower boundary of this channel, which is the perfect accumulation point for investors who wish to enter before the price surges.
The key support levels lie at 0.0006005 and 0.0013976, with the upper boundary marked by the blue line indicating the potential for price targets as high as 0.0015419. A breakout above this level could see significant movement to the upside.
Trading Plan
Entry Strategy:
Now on spot trading and wait until there is a good opportunity to take gains out. Simple as that!
Timing:
The breakout is imminent, as indicated by the chart's technical structure. This is a time-sensitive opportunity, so ensure you are ready to act as the market shows signs of upward movement.
Time to invest is NOW before the price takes off due to the strong bullish momentum and the upcoming developments in the Velas ecosystem.
Conclusion
The current price of WAGYUSWAP is a golden opportunity for investors. With the development of the Velas fork for Solana, the potential for massive upside is clear. The price action shows bullish momentum, and the technical indicators suggest a strong continuation of the trend.
