EDOUSD - How to Trade
Updated
This is a coin that is currently in accumulation phase (DMI ranging between 15-25 with no strong momentum) with a healthy volume profile between 2 USD and 2.45 USD (resistance). It has a bullish bias in the form of higher lows (partly due to Bitcoin's surge above 8k). Be wary of using chart patterns as it can give false breakout signals; DMI comes in handy to avoid fake breakouts. Safe entry is above 2.48 USD with profit targets at 2.8, 3.1 & 3.9 USD.
FA side:
Pros:
Smart incentivisation model for token holders to not suppress price by flooding the markets.
Working & slick product with 100k+ downloads on Play Store.
They have an ICO Engine which has a lot of cross-marketing potential.
Good community management and communication
Cons:
Product is a glorified wallet for now. Plenty of competitors with more developed modules (dapps, decentralized exchange and asset management tools)
Happy trading.
FA side:
Pros:
Smart incentivisation model for token holders to not suppress price by flooding the markets.
Working & slick product with 100k+ downloads on Play Store.
They have an ICO Engine which has a lot of cross-marketing potential.
Good community management and communication
Cons:
Product is a glorified wallet for now. Plenty of competitors with more developed modules (dapps, decentralized exchange and asset management tools)
Happy trading.
Note
First target reached. It's a shame the rally coincided with Bitcoin's push to 10k. Looks like resistance turned support; watch out for the volume in the next 48 hours.
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