BITFINEX:YYWUSD is in a bullish descending triangle and will come to a decision point within the next few hours. It may touch support once more before breaking out after which it has good potential. Entry level won't be much lower than $0.1225 with a safer entry at $0.137 if that and should meet resistance around $0.237 - this is a coin that can thrive in the coming months if BTC remains bullish.
What makes YYW interesting is that it is on both bitfinex and binance and that it is a Chinese coin that has seen serious volume when first listed on Bitfinex. Hopefully they can regain some business momentum and (please) professionalize their (English) website. Mere TA can help a coin a lot but serious business creates the interest and volume.
This is an analysis and not intended as advise
What makes YYW interesting is that it is on both bitfinex and binance and that it is a Chinese coin that has seen serious volume when first listed on Bitfinex. Hopefully they can regain some business momentum and (please) professionalize their (English) website. Mere TA can help a coin a lot but serious business creates the interest and volume.
This is an analysis and not intended as advise
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Comment:
Not enough volume to move it to a new level. Global volume in crypto may be too low at this time for many coins like YYW to make significant moves.
Comment:
Previously heavily pumped it now looks like yoyo is trending upwards along with the rest of the crypto market. It's being listed on the "axe" platform which looks a little silly and not very credible with its stock photos of "experts", but perhaps more substantial is a product release conference on may 5th.
Still, social volume as tracked by solume.io isn't high, perhaps that has to do with this being a Chinese crypto and much of the chatter may not be on reddit and twitter.
It's a good concept in the content rewards domain; being Chinese it will probably have a significant home advantage.
As for TA it just looks very bullish at this point and looks like a good hold. Also see tradingview's TA at www.tradingview.com/...s/YYWUSD/technicals/
Previously heavily pumped it now looks like yoyo is trending upwards along with the rest of the crypto market. It's being listed on the "axe" platform which looks a little silly and not very credible with its stock photos of "experts", but perhaps more substantial is a product release conference on may 5th.
Still, social volume as tracked by solume.io isn't high, perhaps that has to do with this being a Chinese crypto and much of the chatter may not be on reddit and twitter.
It's a good concept in the content rewards domain; being Chinese it will probably have a significant home advantage.
As for TA it just looks very bullish at this point and looks like a good hold. Also see tradingview's TA at www.tradingview.com/...s/YYWUSD/technicals/