SUPER/USDT Volume increase starts to push the price up
SUPER is the currency for the game Superfarm (where NFT's can be collected and used) created from Ellio Trades (Youtube).
Since the launch on Binance SUPER dropped hard after a starting rally.
Currently it looks like we get a trend reversal which is not confirmed yet.
The RSI is around 40 and looks like we can expect a parabolic recovery there.
We spot a recent 50MA and 200MA cross where finally the 50MA is on top again.
SUPER currently is within a rising channel with higher highs and higher lows.
Volume increases over time which indicates rising interest.
All these things are early signs that give us the impression we finally get a recovery.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
Since the launch on Binance SUPER dropped hard after a starting rally.
Currently it looks like we get a trend reversal which is not confirmed yet.
The RSI is around 40 and looks like we can expect a parabolic recovery there.
We spot a recent 50MA and 200MA cross where finally the 50MA is on top again.
SUPER currently is within a rising channel with higher highs and higher lows.
Volume increases over time which indicates rising interest.
All these things are early signs that give us the impression we finally get a recovery.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
