PUNDIXUSDT trade ideas
PundiX: Back towards 4$ and Beyond ?Pundi X is very popular. And BTC is a little bit back on track. If btc manage to keep stable or rise towards 60K or even 70K. Alts are in for a nice Bull moment too.
PundiX made a token burn of /1000 where it seems to be recovered from. It went down from aroun 8$ to $2.10. And build up some heavy resistance points.
I made a little forecast. Pundi is currently retesting the 3.52 resistance. For the 4th time. If it fails again it will retest the 3.27 again.
This is a support that has been tested twice before and i believe it will hold for a 3th time.
I also think it will move along the up trend line. And it will break this resistance.
What will bring us to the 3.71 previous supp. now resistance. Which is also the 1st target. ( Blue text)
It probably will test the new support around 3.52.
And from there the first old support now resistance $4.125 will be tested and which will be our 2nd target.
From there the next fib sequence will be the 1.618 ( on $4.20 ) What will act as some resistance but will hopefully break and that brings us on the 4.45
And last target for this TA.
The Red line is a less bullish line. And also a trigger on which this TA will be totally invalid.
PUNDIX ideaThe goal of the Pundi X project is to make cryptocurrency available to everyone. While other similar projects attempt to outperform the banking system, Pundi X looks to simplify transforming retail businesses to make this happen.
Pundi X has created a blockchain payment ecosystem with the XPOS, XPASS and the virtual XWallet. The XPOS is the world's first blockchain-powered wireless point-of-sale (POS) for cryptocurrencies.
Using the XPOS, retail merchants, as well as consumers, can easily buy, sell and transact using digital assets in physical stores. The product is designed to accept every cryptocurrency. Popular digital assets like Bitcoin (BTC), Ethereum (ETH) and Pundi X (PUNDIX) are listed within the ecosystem.
PUNDIX/USDT I am staying away for nowThe long term trend is bearish for the coin, it's in the new zone of price discovery . There are no heavy buyers observed in the Zone. I will defiantly stay away from it until it clears this zone. There is always the possibility of reversal but it's not showing the signs till now.
For now, until the cloud clears I am going to invest somewhere else :)
Best wishes, Let me know your thoughts on this.
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