ALCX 4h shortSetup: ALCX is consistently forming newer lows. Another thing to take note is that it is weaker compared to the other cryptocurrency as when it bounce, the bounce is really minimal. The OBV also supports this as OBV is consistently forming lower lows.
Entry: 57.3
Exit: Trail using SAR indicator
Alcx
ALCX LongAfter yesterdays debacle with VET i was unsure to post this.
What i did was bought a small part in at 306.8 what was fib lvl .786
As a backup i will buy more 1.5x the first bit at lvl 300.8
This was the swing recent swing lo.
This 1 is now in profit and i already moved my stop loss from 294 to 306.8
So in profit.
lets see how long we could ride this baby
ALCX 100% - 200% potential to increase.#ALCXUSDT
$ALCX is a coin that didn't increase as much as others, now price is below a resistance zone and struggle to break it, but before that it is possible to decrease and touch the support zone, then start a rally to weekly resistance zone that it is 80% - 100% profit.
long term target can be around $1100. (200%)
ALCX MAJOR BUY OPPORTUNITYsolid fundamentals, tokenomics and technical setup. this coin is currently trading below the $350 initial launch price and is in my opinion one of the best R:R setups going right now in the DeFi space. a further catalyst for upside rally is the imminent new all time high on BTC, which will likely initiate face melting pumps across the market early into the new year.
ALCX vs 1INCHI hodl both and wanted to understand if one was moving faster than the other. Using ratios, I can see ALCX is outpacing 1INCH in price increases.
Market cap of ALCX is much lower 250 million vs 1billion roughly at time of writing, ALCX supply is lower as well 564,595 total circulating ALCX VS 380,884,858 1inch so no wonder it's moving faster.
This also means it could crash faster if the market runs into any turmoil in the coming weeks. Feels like we are OK but you never know.
Will wait for a minor correction and then probably move my 1INCH into ALCX as they have 80% APY staking currently.
What would you do?
Not trading advice, just documenting my thoughts to learn from in future.