NWC/USDT - When Technicals and Fundamentals AlignHi everyone,
The Trading-Guru is back with an analysis on NWC. In this analysis I mix things up a little bit and cover NWC/USDT both from a technical and a fundamental point of view.
There are two important horizontal levels on the chart. The horizontal resistance zone marked by the ATH at around 28.5 cents and the horizontal support zone of around 18.5 cents.
As this coin has a relatively low marketcap there is high volatility and even a "scalp" trade between support and resistance can already yield 30%+ as shown by this trade set-up.
Now, normally I would've suggested to wait for the price to drop to the support zone and buy there. However, besides technicals there are other factors at play here that influence the price.
Especially on lower marketcap coins it is important to keep an eye on more fundamental things cause they have a high probability of influencing the price. Today you can see that NWC has had an audit by Vera Chain which went successfully. As a result the price went up already before the support zone was hit.
Now after a few hours I think we can safely say that the reversal has been confirmed and I suggest to enter a long position here on NWC.
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- Trading Guru
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
