Hello everyone! There's still hardly any ideas or news on Clover Finance so I figured I'd expand on my previous idea and give a few predictions. Quick disclaimer, nothing written here is financial advice, always do your own research, always have a well thought out trading plan, and talk with a professional when considering investments. Another disclaimer, I do in fact own CLV so take everything I write as biased and read the first disclaimer again.
Last time I wrote about Clover's price pennant so I kept that on in addition to the various supports and resistances. I was planning on a more bullish scenario coming out of the pennant, but honestly I don't mind the neutral movement we've seen. The price found support at $1.05 which was accounted for previously so I'm still leaning bullish overall. If it breaks that support with a major movement I'll reconsider my position in accordance to my trading plan.
For price predictions, with the current circulating supply in mind, I'd say my initial target would be around $8 if network users and / or traders increase demand for the token. Maybe around $80 at most if we see extreme demand, but that'd be a flash pump only as everyone who's bought in would be quickly pushing that price down with market sells. I don't see the price breaking down past $0.42 unless something like a major network flaw is exploited or the market decides to pull out completely. I can't say for sure when those prices may happen, but if value is added to the network and reflected in the price over time then those targets would make sense compared to other cryptocurrency market cap ranges.
Thank you for liking my last idea! If you disagree or point out something that's incorrect I'm more than happy to receive your feedback! Please be safe and have a nice night!
Last time I wrote about Clover's price pennant so I kept that on in addition to the various supports and resistances. I was planning on a more bullish scenario coming out of the pennant, but honestly I don't mind the neutral movement we've seen. The price found support at $1.05 which was accounted for previously so I'm still leaning bullish overall. If it breaks that support with a major movement I'll reconsider my position in accordance to my trading plan.
For price predictions, with the current circulating supply in mind, I'd say my initial target would be around $8 if network users and / or traders increase demand for the token. Maybe around $80 at most if we see extreme demand, but that'd be a flash pump only as everyone who's bought in would be quickly pushing that price down with market sells. I don't see the price breaking down past $0.42 unless something like a major network flaw is exploited or the market decides to pull out completely. I can't say for sure when those prices may happen, but if value is added to the network and reflected in the price over time then those targets would make sense compared to other cryptocurrency market cap ranges.
Thank you for liking my last idea! If you disagree or point out something that's incorrect I'm more than happy to receive your feedback! Please be safe and have a nice night!
Comment:
Looks like we'll either be moving within a new range or hopefully going towards that uppermost resistance! Glad to see some bullish price action finally either way!
Comment:
Well wouldn't be one of my trades if it didn't reverse back down to the previous range :P I'm still in the trade and I could see another push towards $2 happening soon. If I were to guess for bragging rights later I'd say sometime in the next two days, but that's pure speculation on my part. Support and resistance still seem to be the only strong guide that I've seen post pennant, but I'll keep you guys updated if I see anything starting to form!
Comment:
May not have been two days, but I'll settle for three. Hopefully this push continues on to $2! Might make a new idea on the 4h timeframe soon depending on how much free time I have.
