SUN - will 10x in 2024. Buy now or wait? ReadSUN is another gold mine that can make a lot of profit in 2024! We can see that we have had a 622-day long consolidation at the bottom of the chart. It's very important for whales to accumulate their coins so they can pump them and make a lot of money. What we want to do is spot the buying activity and buy before the pump!
I am definitely bullish on this coin, and the most important question - buy now or wait for a correction? It's not always an easy task, as sometimes the chart does not make any significant pullbacks. If you want to wait, I strongly recommend buying at 0.011320. Often, patience is the key to success. But if you really believe in this coin and do not want to miss out, you can buy the coin now and potentially buy even more on a pullback!
On the chart, you can see 3 profit targets that you can use. The third profit target will be specified later in 2024, so make sure you follow me! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
What Is SUN token (SUN)?
The SUN.io platform is TRON's first one-stop platform that supports stablecoin swap, token mining and self-governance. After the redenomination, the new SUN token, as a multifunctional governance token on the SUN platform (similar to the CRV token of Curve DAO and the EPS token of Ellipsis), will grant token holders various rights and benefits such as the voting and governance right in the community, value capture, staking rewards, etc..
SUNBTC
#SUN/USDT#SUN
The price is moving in an upward trend, which the price has relied on more than once in its rise
We have support at the 0.00750 level, from which it is expected to rise
After it is corrected a little
We also have a catalyst from the RSI indicator
We have a higher stability moving average of 100
Entry price .00764
First target 0.00861
Second goal 0.00957
Third goal 0.01060
SUN Chart Analysis + Project OverviewSUNBTC grew by 49% yesterday alone...
Up to 60% in the past three days.
Yesterday we had a very strong bullish candle and the highest volume since this pair was added to Binance.
This type of bullish action can lead to additional growth.
For trading though, you still need a plan...
What to do if prices go down?
Keep the trade or close (set a stop-loss)?
When to sell as prices go up?
Keep the coins or secure profits (set up some profits targets)?
This is as simple as it gets...
Here is the project overview.
Thanks a lot for your continued support.
Namaste.
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What Is SUN (SUN)?
SUN (SUN) is a cryptocurrency designed to further the development of decentralized finance (DeFi) on blockchain network TRON (TRX).
Described as “the quintessential Bitcoin equivalent on TRON,” SUN is a voluntary project which runs on TRON’s TRC-20 token standard. A dedicated community administers operations via smart contracts.
SUN’s genesis mining phase began at the start of September 2020, lasting for two weeks before the official launch. Participants can stake TRON’s TRX token or other TRC-20 tokens to earn rewards and governance rights for SUN.
Who Are The Founders Of SUN?
SUN is closely associated with TRON, and conspicuously bears the surname of TRON’s founder, Justin Sun.
Sun is a well-known figure in the cryptocurrency community, infamous for his vocal promotion of TRON and discussing cryptocurrency with Warren Buffett at a lunch for which Sun paid $4.5 million.
Sun has publicly promoted SUN, and while the identities of its developers themselves have not been formally revealed, a dedicated community is tasked with its operations and growth.
True to the DeFi mantra, all activities and updates are executed on smart contracts in accordance with community governance procedures.
SUN’s whitepaper calls it a “social experiment,” and plans for the future state that the token “may also take part in decentralized lending, insurance, liquidity, stable coins, etc.”
What Makes SUN Unique?
SUN’s main purpose is to exist as support for the TRON protocol, which aims to create a decentralized internet ecosystem.
SUN specifically focuses on DeFi and aiding its uptake and infiltration on TRON’s blockchain. As such, its function mimics that of the native tokens of DeFi platforms, and rewards users for staking other coins and involving themselves in governance procedures.
Its appeal will, of course, be to existing TRON users and those familiar with DeFi staking and related activities.
Profitability appears to be a question mark as of September 2020, the month of SUN’s launch. According to the whitepaper, developers privilege “fair” token distribution and did not accept any funding, nor was any SUN reserved for them or TRON team members.
This is in contrast to TRON itself, which raised over $70 million in an initial coin offering (ICO) in 2017.
SUN/BTC (Testing Reverse Fib 2.0 Support)💎Technical Analysis Summary💎
BINANCE: SUNBTC
-SUN is heavily on a downtrend since breaking its recent structure
-It is now trading just above reverse Fib extension support
-There is no sign of strength yet for SUN
-Just a little reaction bounce a few hours ago
-This is a high-risk trade if you will try to enter now
-Please wait for any signals or reversal patterns
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