Wormhole - Falling Wedge Close To Breakout - Potential 360% Move
A lot of new token launches (Airdrop/Pre-Sale at least) this year seems to suffer the same fate: Price might pump a bit at launch with decent volume, but soon after the interest dies and the price dumps. I've seen several coins now with huge falling wedges like we can see here, and the breakouts are usually insane. W looks like it's getting very close to finally getting out of this wedge.
This looks like a great place to enter a long. Main target is $0.786, and the plan would be to hold maybe ~20% if it looks like it can push $1. The VWAP has acted as a resistance in the past, if the price fails to go past this VWAP again I'd just sell, as it's likely to reverse again.
The St. Dev. Bands line up quite well with my targets, and could end up becoming more precise TPs.
The targets probably seem unrealistic, and maybe they are for the shorter term at least, but these markets move in strange ways, I've been seeing some crazy price action lately (like CLOUD for example)
Tight SL here, would probably look to enter somewhere lower if it gets hit.
This looks like a great place to enter a long. Main target is $0.786, and the plan would be to hold maybe ~20% if it looks like it can push $1. The VWAP has acted as a resistance in the past, if the price fails to go past this VWAP again I'd just sell, as it's likely to reverse again.
The St. Dev. Bands line up quite well with my targets, and could end up becoming more precise TPs.
The targets probably seem unrealistic, and maybe they are for the shorter term at least, but these markets move in strange ways, I've been seeing some crazy price action lately (like CLOUD for example)
Tight SL here, would probably look to enter somewhere lower if it gets hit.
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