– Have you missed some of the big runs in cryptos lately? Don’t buy at the top!
– Waiting for pullbacks can be frustrating – but they pay off.
Above: Cardano (ADAUSD)
For crypto enthusiasts, one of the most frustrating things to watch is seeing a market make double-digit percentage moves – but you missed it while waiting for the perfect entry. But that doesn’t mean you have to rush to the top of the market. Identifying support levels I is key to ‘buying the dip’. There are two levels of support that I notice on Cardano’s chart. The first is at $ 1.6673, which is the daily Tenkan-Sen and 38.2% Fibonacci retracement in the current swing. The second price level for the support is at $ 1.55, which includes the daily Kijun-Sen and 50% Fibonacci retracement.
Buy limit price levels: $ 1.5535 and $ 1.6673
Above: Polygon (MATICUSD))
Polygon has taken some massive strides in the past few days. The most bullish event on the Ichimoku chart for Polygon was the current close above the cloud. There is still plenty of time to complete above the cloud, but for the moment it is. If Polygon closes on top of the cloud, then I would look to the top of the cloud and the 14.6% Fibonacci expansion for support – $ 1.30. But further down, I would consider the Kijun Sen and 38.2 Fiboancci retracement at $ 1.10 as the next primary support area.
Buy Limit Price Levels: $ 1.10 and $ 1.30 (only if Friday close is above the cloud).
Above: IoTeX (IOTXUSD)
IoTeX has been around for a while, but its most recent addition to Coinbase has brought it some significant and significant gains over the past week. It has peaked near the $ 0.15 level and is now struggling to hold the $ 0.10 level. The two main support levels I see are the $ 0.085 level (Kijun-Sen and Tenkan-Sen share this level with the 23.6% Fibonacci retracement) and the $ 0.0488 level. $ 0.0488 may seem like a small drop, but it’s the 50% Fibonacci retracement and it’s the second highest high volume node for 2021.
But limit level: $ 0.085 and% 0.0488
Above: Solana (SOLUSD)
Solana’s lagging span has had a great breakout above the cloud – fell to test for support – and has resumed its upward movement. The price movement of Solana was very, very closely related to the Tenkan-Sen. More than almost any other cryptocurrency I look at, Solana’s price movement and the Tenkan-Sen are the most closely related. This is an important sign of strength. The support zone is very close to the current trading price, so I would look a little deeper down. I like the $ 34.23 price level because it is Senkou Span B which contains 50% Fibonacci retracement and will likely contain the daily Kijun-Sen for the next few days.
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