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$NOT Still not in favor of entering onsite at this time. 🚫
I'm just playing the waiting game. Whatever doubts I had posted earlier are taking the form of reality.
And the decline is increasing. 📉
Today I'm sharing some key takeaways from the 2-hour time frame as the 20 and 50 DMA (daily moving average) came into existence. Although things look pretty much the same over a 1 hour time frame, with 20, 50 and 100 DMAs appearing.
📌 Now, $0.005 was the support level to reach that I mentioned earlier (check the pinned comment on the thread below) and the support looked promising for a while, but as expected, this level was also exceeds. Thus, this price becomes immediate resistance.
📌 Continuing from the last post, since we are in a price discovery zone, new support levels are observed and are easily broken.
Result: new inconvenience.
Currently, support looks promising at $0.0048, although at the time of writing it is trading above $0.0048.
📌But here's the thing: I still wouldn't consider this a good entry because the price action is weak. Indicators also point to further weakness. So be patient and let's see how far he can travel.
There are a few things I am analyzing on the chart and if the day's close goes according to my expectations, I will share an article related to the spot entry.
In the meantime, wait and watch. Have a nice fall.
#NOTLAUNCHPOOL #BinanceLaunchpool #altcoins #BuytheDips #ETHETFS