Given the strength of this trend, it is very hard to be bearish, but I am hoping the resistance around this ~$12.20 level remains intact (for a day or so) despite the breach seen on 8/25/2022.
Although supply is low and we seem to be in a weird market right now for alts, why shouldn't this be a valid play? Posting for later reference.
If the current bump weakens, perhaps we could see a retreat to serious lows for LUNA. Whatever happens, DYR. But if you countertrade me you'll likely be rich.
Wondering if GALA has found a floor from which to spring. Welp, I'm now long. Let's see how it plays.
Based on some fibs, I am briefly long SAND. See if there is more gas in the tank.
LUNA looks oddly weak here. Already has slipped below the sizable volume profile hump and doesn't seem to have much profile support until the $75 area. I'm short, but what do I know. DYOR.
Why shouldn't this beast retrace back to the 1.0 level from 2021? That being said, if the fib circles are any guide, there wouldn't be much room to dump beyond that, at least not fast. Whatever.
PA scares me. Hope this never happens. Seems too easy to find rising horizontal support line. Pessimist for now.
It's hard to ignore the case for catastrophic drops down to perhaps $9500 based on the monthly volume profile.
KRAKEN:ALGOUSD The high and low pivots for ALGO have followed an interesting pattern of retracement over the past few years. Wild idea, but suppose the price revisits the 0.618 or 0.786 level over the next week or so, then pumps back to the next 3.0 line. We'd be at $5.00 before the summer. Dumb idea, do your own research, whatever.
The charts since before the May 2021 moon-then-nosedive has shown ETH stalling around $2900. Given the strength of the current bull trend (yellow lines), there may be cause to anticipate that the ~$2900 zone could actually become supportive .