It appears that we are in wave 4. Looking at the charts, wave 2 seems to have been a shallow retracement. According to wave theory, wave 2 and wave 4 have an opposite character, so it is no surprise that wave 4 is retracing more steeply. Conservative targets are at about 4500sats. This would give a 1-1-1.618 wave ratio for this impulse. More aggressive targets would be the 6000sats and 7500sats range. This would bring the price of CND to the 0.70-0.80$ range depending on the price of BTC , and overall market strength.
The close observer will notice that my wave analysis sometimes lands on candle bodies and other times lands on wicks. Here I am looking for Fibonacci levels as well as overall consistency in the impulse. Based on the recent price action on the coin, my intuition tells me to hold for a long position (maybe months). Note that moving averages indicate a strong uptrend that will take a large amount of sell pressure to break.
Some Advice! Sign up for Cindicator on their website and learn more about their project. There you can become an analyst for free and you can keep track of this great project. By simply entering your predictions into their AI, you are helping to strengthen their project!! Note that I do not work for CND , and I have no conflict of interest in this regard. I simply like their concept and I believe that they will continue to develop.
Keep it real
These solely my own ideas. This is by no means professional financial advice and I cannot be held accountable for any investment decisions undertaken by reading this article.
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We have already seem some strong price action today, so we might already be on our wave 5 up. It is looking less likely to come back to 2400 unless some short selling comes in. With cryptos, wave 5 commonly extends and can be quite violent if serious volume comes in. Conservatively, I'll say a week or two - but things will become more clear if smash through our wave 3 all time high.
If you are looking for 2400, then maybe hold hold out to see if it comes down? Its hard to say because with todays price action it is really tempting to FOMO into the coin. However, I do feel like CND is a solid long term hold so if you are swing trading then maybe you can jump in with a stop loss??
Of course this is not 'financial advice". I;m just sketching out my thought process with the coin :-). Hope this helps!!
Thank you for your detailed reply. It's so important (and refreshing!) to have TA's on TV that our well founded. There are sadly so many Lambo kids and moon callers on here these days, on which people place so much faith, it makes natural market movements, un-natural.
I got in at 2481. Which I'm very happy with. CND is a very interesting project, with actual application, however ownership of it is incentivised in quantity, so a natural pull on the supply.
Thanks again, and good luck! I will be following your TA's. :-)