Long
GRIMACE/USDT 4H. New doge incoming. Idea + Chart.
Updated
Hello everyone, in this idea i will try to share the ideology of Grimace and also we will look at chart. LFG.
Grimace is the new coin which was recently listed on MEXC. The ideology of the project is very promising and here's why:
1) Big community(over 30k people community).
2) Potential Hype with McDonalds(Think about it).
3) New project(big potential for pump).
Now let's move a bit to the fundamentals of the token. Once upon a time McDonalds had a "beef" with Tesla, in which it was decided, that McDonalds starts to accept Doge as a payment only if Tesla starts to accept Grimace.
From that moment on people started to create Grimace Tokens, chasing the hype, but no one treated it as serious as Odyssey...
This is the only Grimace token with over 2 millions $ capitalization. The huge work is being done in social networks. And the CEO is building hard. It's an open information.
Now let's move to the chart. The full chart can be found on dexscreener. Mexc contains only part of the full chart.
At the start of trading history we saw a little pump, after which the correction started. The price dropped down 66.14%(66/4) and reached 4.666$ price(exact numbers on MEXC).
Something similar was on Apt chart at the listing. Pump at the start, then drop 66%, a little accumulation, final capitulation and then pump 500%+ in 30 days.
After reaching 4.666 mark accumulation channel started to form, exactly as it happened on APT chart. Now, on Grimace, the channel is forming for 12 days. The amplitude is 72% for the "wide" channel and 42% for the "inner" channel.
You might also consider that there might be a manipulation to collect the liquidity. In this case, as almost on every coin, it's about 25% potential drop below support zone - this will be enough to collect the paper hands. Hence it's about 3.5$ to be reached potentially(shown on chart).
But it might also not happens. Only if market gives an opportunity to do so. Though at the beginning of trading history you, as MM, ain't interested in dropping price too low and giving people the opportunity to enter the market at cheap prices.
You might also notice on chart that the downtrend line was formed at the start. Recently it was broken up and now the retest is taking place(shown on chart). The volume is starting to come in right now.
Potential Double bottom might form with the base of 72%.
Consider also the next thing - MM moves the price according to the market cycles(best case scenario), so he's not interested in pumping price "tomorrow". And probably he is not interested in giving money away just for free. So be patient and use ur own head. DYOR.
Thanks for reading till the end guys. Long time no post, but coming with fresh thoughts. Profits to all.
The potentials here might be taken conservatively. ATH as the potential target. 13-15$ range. Then it's an open space, but relying on Fib, the target of 23-25$ zone might be also mentioned.
Potential support zone also shown.
Grimace is the new coin which was recently listed on MEXC. The ideology of the project is very promising and here's why:
1) Big community(over 30k people community).
2) Potential Hype with McDonalds(Think about it).
3) New project(big potential for pump).
Now let's move a bit to the fundamentals of the token. Once upon a time McDonalds had a "beef" with Tesla, in which it was decided, that McDonalds starts to accept Doge as a payment only if Tesla starts to accept Grimace.
From that moment on people started to create Grimace Tokens, chasing the hype, but no one treated it as serious as Odyssey...
This is the only Grimace token with over 2 millions $ capitalization. The huge work is being done in social networks. And the CEO is building hard. It's an open information.
Now let's move to the chart. The full chart can be found on dexscreener. Mexc contains only part of the full chart.
At the start of trading history we saw a little pump, after which the correction started. The price dropped down 66.14%(66/4) and reached 4.666$ price(exact numbers on MEXC).
Something similar was on Apt chart at the listing. Pump at the start, then drop 66%, a little accumulation, final capitulation and then pump 500%+ in 30 days.
After reaching 4.666 mark accumulation channel started to form, exactly as it happened on APT chart. Now, on Grimace, the channel is forming for 12 days. The amplitude is 72% for the "wide" channel and 42% for the "inner" channel.
You might also consider that there might be a manipulation to collect the liquidity. In this case, as almost on every coin, it's about 25% potential drop below support zone - this will be enough to collect the paper hands. Hence it's about 3.5$ to be reached potentially(shown on chart).
But it might also not happens. Only if market gives an opportunity to do so. Though at the beginning of trading history you, as MM, ain't interested in dropping price too low and giving people the opportunity to enter the market at cheap prices.
You might also notice on chart that the downtrend line was formed at the start. Recently it was broken up and now the retest is taking place(shown on chart). The volume is starting to come in right now.
Potential Double bottom might form with the base of 72%.
Consider also the next thing - MM moves the price according to the market cycles(best case scenario), so he's not interested in pumping price "tomorrow". And probably he is not interested in giving money away just for free. So be patient and use ur own head. DYOR.
Thanks for reading till the end guys. Long time no post, but coming with fresh thoughts. Profits to all.
The potentials here might be taken conservatively. ATH as the potential target. 13-15$ range. Then it's an open space, but relying on Fib, the target of 23-25$ zone might be also mentioned.
Potential support zone also shown.
Note
Got to the high of the range at 8$. As for now this crypto is moving very accurate. Moved 72% as the channel bias.
Right now, as mentioned in the original idea, there's a potential for double bottom forming. Shown on chart. Also there's a bullish flag forming, also shown.
Yet, till there's no breakout and confirmation of breaking the range - it's very early of making any decisions.
Right now the price is trying to lock above the middle of the channel.
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