Voxies up to 0.17?Hello, fellow traders!
This is my analysis on Voxies (VOXELUSDT).
1️⃣ Analysis
We see the price rebounding after reaching the key support level of 0.1304, ATL of the crypto. The current dynamics of the crypto market was able to boost this young crypto into a strong uptrend.
2️⃣ Expectations
The price may rise up to 0.1776, where it will face resistance and revert. 0.1896 is where the major resistance holds.
3️⃣ Key approach
Our first strategy is to enter long and take profit at 0.1770. Entering now may have some risks but I think we will meet the target in long term anyways. Crypto market is in a bullish trend, and we already saw two consecutive bullish candles after reaching the support level. But if you want to play it safer, you could wait until the price drops back to around 0.1418 and confirm the reversal.
4️⃣ Other approach
Our second strategy is entering short at 0.1770. This, in my opinion, is a lot safer than our first strategy since the crypto is in its constant downtrend. After confirming the reversal, we may enter short. The target price would be 0.1304, our support level.
5️⃣ Considerations
There are currently no news about Voxies. This crypto is very young and has low volume. You might want to consider this if are going to trade.
React, don't predict! Stay disciplined and patient. Don't get greedy and be thankful.
Nehemiah 9:26-31
