NPXS Behaving as Expected
A lot of folks on Reddit, Telegram and Twitter are panicking about it 'going to zero' but I've been following NPXS since it's failed push into the 20 sat range back in March and I have to say... it is just staying in the falling wedge excactly as one might expect.
I did think that the token burns earlier this month would have driven price more, but it looks like the smaller and larger falling wedges just want to play themselves out fully.
In my chart, you can see the smaller purple wedge closing around 4-5 sats on August 1st, which means that in the next few days, if NPXS can close at 7, we should have exited that and might see a little mini push.
The larger blue wedge still has until October to play out and we need a close around 10 sats to really exit this year-long channel.
A lot of altcoins seem to have similar charts, so I have to think that just like in October 2018, a lot of them will run one after the other in the same way. The trick is catching one or more of them as they run.
Today, we have seen buys at 7 sats for the first time in a while, which means we could be exiting the smaller wedge as early as tomorrow.
Therefore, I would place a small buy at 7 sats, with larger ones at 6 and 5 and hope to catch one or both. Upon exit of the purple wedge, we should get up to 9 sats before bouncing off the top of the channel. I would be shocked if we broke that channel before September.
September/October is a time for more coin burns for NPXS and gets us to a testnet launch for the F(x) token (which means closer to the NPXS conversion to the F(x) main net... and news of that in October is what I think will take us FINALLY into an uptrend.
I did think that the token burns earlier this month would have driven price more, but it looks like the smaller and larger falling wedges just want to play themselves out fully.
In my chart, you can see the smaller purple wedge closing around 4-5 sats on August 1st, which means that in the next few days, if NPXS can close at 7, we should have exited that and might see a little mini push.
The larger blue wedge still has until October to play out and we need a close around 10 sats to really exit this year-long channel.
A lot of altcoins seem to have similar charts, so I have to think that just like in October 2018, a lot of them will run one after the other in the same way. The trick is catching one or more of them as they run.
Today, we have seen buys at 7 sats for the first time in a while, which means we could be exiting the smaller wedge as early as tomorrow.
Therefore, I would place a small buy at 7 sats, with larger ones at 6 and 5 and hope to catch one or both. Upon exit of the purple wedge, we should get up to 9 sats before bouncing off the top of the channel. I would be shocked if we broke that channel before September.
September/October is a time for more coin burns for NPXS and gets us to a testnet launch for the F(x) token (which means closer to the NPXS conversion to the F(x) main net... and news of that in October is what I think will take us FINALLY into an uptrend.
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