POND breaking out
מעודכן
POND is a crypto of Marlin protocol providing a high-performance programmable network infrastructure for DeFi and Web 3.0. Like other Web 3.0 cryptos, POND has well performed recently.
After losing 95% of value form its ATH, it has consolidated in a Darvas box since 2 months and a half.
High volume trades have been realized and pushed the price to go up. The MA 50W was broken and the Darvas box is likely to be as well.
I'm using Fib-retracement to highlight the major levels of POND if the new trend is up.
Here is the referenced setup for this trade:
After losing 95% of value form its ATH, it has consolidated in a Darvas box since 2 months and a half.
High volume trades have been realized and pushed the price to go up. The MA 50W was broken and the Darvas box is likely to be as well.
I'm using Fib-retracement to highlight the major levels of POND if the new trend is up.
Here is the referenced setup for this trade:
- Entry when there is a 1D candle closing out of the Darvas box and above the Fib 0.236 level, i.e $0.01543. One could also enter when the Darvas box is broken, i.e prices closing above $0.0144.
- SL below the red line, $0.0088
- Darvas box pattern is invalidated when there is a 1D candle falling and closing inside the box (after breakout). The trade must be stopped in this case.
הערה
POND is outperforming all other cryptos, specially in the context where BTC continues to drop (as predicted in my previous post).For those who are not in the trade, in my opinion we can wait for POND to stabilize around $0.015-$0.016 to enter.
כתב ויתור
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