TRX and Tron-based tokens (especially memes) are pumping heavily right now.
As always, it doesn't make sense to blindly chase green candles. The risk of buying the (local) top is too high.
It's better to search for tokens that offer some growth potential.
JUST is probably one of them:
• Has been consolidation for more than 2 years (!!!)
• Price increased due to the TRON pump — but moderately compared to others
• It still trades below a major resistance (~0.035)
• A break of the resistance is likely to initiate another, bigger leg up.
Game Plan:
• Wait for the price to pump above the 0.035 resistance
• Wait for confirmation. However, things can happen quickly here. Might be ok, to go for a higher risk and use 1H or 4H confirmation
• Set stop loss slightly below the resistance
• First profit target: $0.43 — however, it can go much higher.
As always, it doesn't make sense to blindly chase green candles. The risk of buying the (local) top is too high.
It's better to search for tokens that offer some growth potential.
JUST is probably one of them:
• Has been consolidation for more than 2 years (!!!)
• Price increased due to the TRON pump — but moderately compared to others
• It still trades below a major resistance (~0.035)
• A break of the resistance is likely to initiate another, bigger leg up.
Game Plan:
• Wait for the price to pump above the 0.035 resistance
• Wait for confirmation. However, things can happen quickly here. Might be ok, to go for a higher risk and use 1H or 4H confirmation
• Set stop loss slightly below the resistance
• First profit target: $0.43 — however, it can go much higher.
I'm Ben. Crypto lover, trader, and coder.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I'm Ben. Crypto lover, trader, and coder.
Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com
🔥 For exclusive content: newsletter.bencrypto23.com/exclusive
Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com
🔥 For exclusive content: newsletter.bencrypto23.com/exclusive
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.