Since the half-noise has already switched to bitcoins (BTC), altcoins are starting to gain momentum. In this regard, several alternative currencies have shown significant changes over the past two weeks.

One of the biggest players is Theta Token (THETA), which gained 1000% after the crash on Black on Thursday 12 March. Theta Fuel's second symbol, Theta Fuel (TFUEL), also rose more than 1150% in one week. trial

The Theta token has reached new highlights, but is it time to buy?
As the lights get greener and greener, people are stimulated by FOMO, noise and an emotional skew towards participating in these powerful altcoin events.

Where have we seen this before? During mid-March, traders and investors sought to enter the market for $ 10,000. However, the same traders and investors have difficulty intervening when the currency falls.

In this regard, the following graph shows a massive increase in THETA in recent months.

TETA occurred 80% in March, after which the lowest levels and confirmation of support were tested again.

Following this incident, many support / resistance fluctuations were realized, confirming the continuation of the beef trend. One was found at $ 0.068 and the other at $ 0.125.

In recent days, however, altcoin has begun to accelerate sharply and accelerate, as momentum and noise have increased dramatically. Binance today announced that the exchange will support updating the token to the main network. The question is, is this probably a rumor purchase, a news event sale?

What should be mentioned? After peak height, correction and rebound are needed. The left panel of the chart shows a similar increase, after which the price dropped for support tests.

Therefore, it is not very advisable to start introducing coins in these areas with excessive price movements.

Gray areas are called observed levels, which are 0.155-0.165 and $ 0.237. The main observation area will be the heart of support / resistance at around $ 0.165.

THETA / BTC shows a huge graph. The support level remained at the level of 0.0000000, after which the price rose to the top of the series.

This high band has been tested several times before, as shown in the graph.

Does that mean this coin is a great starting point? No, it's dangerous to come in now, especially considering the previous excellent example. A similar structure was developed last year.

The main attraction will be a return to the mark 0.00002000-0.00002050. However, this update may take some time.

The second symbol on the Theta platform is called Theta Fuel (TFUEL) and began to grow significantly last week along with the most important one.

Similar and diagonal-like growth occurred on this symbol, since price resistance was used at the level of 0.00000270-0.00000280.

However, when traders look at this chart, they should be aware of the risks associated with imposing restrictions on this symbol. As just mentioned, mass movements take time to consolidate and correct this step. These movements are usually caused by a huge amount of noise and FOMO.

With the announcement of a major network upgrade today, this could mean that the price has reached the pinnacle of the movement.

The chart shows potential entry areas that traders can look for. If the price maintains the level of 0.00000155-0.00000160 as support, a possible new rally may occur at the top of the series, which is 0.00000240-0.00000280.

However, when the support level of 0.00000155 molecules is lost, a new fall is expected to slow down the noise.

The moment when this noise disappears, when people have to watch out. The gray area between 0.00000070-0.00000100 molecules is the basic level of potential support.

Will growth extend to other alternative currencies?
It is very likely that we will see a continuation of altcoins in the coming period. Several arguments stand for this statement. One of them is the 100 and 200 day moving average roll sequence in many of these alternative currencies.

Another argument is the reduction in bitcoin volatility (BTC), since the highest-ranked cryptocurrency on CoinMarketCap fluctuates within range and probably will not exit this area.

Source: CoinTelegraph

LEAVE A REPLY