Hello everyone! I have been following this asset for quite some time and have been buying it in parts throughout 2023. My average entry point is currently at $0.003443.
Looking at the chart now, on all higher timeframes it is clear that the asset has broken a double bottom at the 0.5 Fib level, with the potential of this pattern reaching $0.28, where the global ATH is also located.
Applying Elliott Wave Theory to this chart, we can see 3 corrective waves and a potential 5 wave growth structure to follow.
Based on this, I believe we are at the peak of wave 1 and we can expect a correction towards 8-9 cents per coin in the near future.
Following the 5 wave structure, we can expect further growth towards $11, where the next Fib level is located after surpassing the ATH.
However, everything could change. It all depends on the project's marketing and proper listings.
Follow me for more trading ideas.
Looking at the chart now, on all higher timeframes it is clear that the asset has broken a double bottom at the 0.5 Fib level, with the potential of this pattern reaching $0.28, where the global ATH is also located.
Applying Elliott Wave Theory to this chart, we can see 3 corrective waves and a potential 5 wave growth structure to follow.
Based on this, I believe we are at the peak of wave 1 and we can expect a correction towards 8-9 cents per coin in the near future.
Following the 5 wave structure, we can expect further growth towards $11, where the next Fib level is located after surpassing the ATH.
However, everything could change. It all depends on the project's marketing and proper listings.
Follow me for more trading ideas.
