Crypto Analysis | Koin Ready To Break Out
Good day Hiveians!
Join me in analyzing the crypto markets!
Koinos is growing and looking quite strong
There are several developments influencing a good price movement for Koin currently:
- lots of Twitter engagement with bigger accounts tweeting about Koin/Koinos and getting around 50k views
https://twitter.com/BrianneFrey/status/1653735589634789376?s=20
https://twitter.com/ParabolicPump/status/1656366147648778248?s=20
We also have a very good development pace atm. Kollection has just launched after KAP and the first DEX will launch in about 4 weeks. While there are still only a handful of devs currently, the chain is clearly set up to build dapps with relative ease and should therefore attract many more dapps.
The chain is also attracting gaming dapps with its free to use chain with Splinterlands being among the biggest studios signing on.
Back to TA
Aroung 2 weeks ago I left you with my latest outlook for Koin. In it I stated:
In 2-3 weeks we could see a price bottom and the beginning of a reversal. This would very well coincide with KoinDx with DeFi platform for Koinos.
Seems like this price bottom might have occurred even earlier than that as price has since then already reversed. This is evident in the macro chart where you can see price bouncing off of the former macro resistance (now turned support):
On the daily chart we can see a very good setup. Price has been climbing slowly on the daily support (blue ascending line) and bounced off of the macro resistance (now support) in black. It has also broken out of the daily resistance trend line (descending blue line).
Former highs would lay out the price potential for the next weeks/months. This is now around the $1 mark and is the target for the next pump. KoinDx will also be released soon and any news regarding it will likely move price upwards. It seems like now should be a good buying opportunity for the near future.
After reaching $1 price will probably stay in the that area for the rest of summer. From what I can see in the macro chart, there is a good chance for a bigger breakout to $6-$8 after that. But we first have to see how things develop until then.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
Check out the Love The Clouds Community if you share the love for clouds!
There's indeed big hype about the chain and the upcoming release of the DEX. I don't know if it's the places I frequent but it seems Koinos network is everywhere. There's a good potential upside on Koin price in the coming weeks. Is the coin listed on more exchanges now?
Congratulations @tobetada! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
The way I saw your post once before is the check which is becoming very popular all over the world and the way you charted it. And as it becomes more popular around the world, we'll see it go back up again in the near future.