VARA, DEAD Altcoin or SWING TRADE King ?In the daily timeframe, VARA has lost a lot of liquidity, trading nearly 90% lower than December last year.
The macro outlook is definitely grim, but that doesn't mean vara can't be traded in lower timeframes for swing trades. Although I doubt that it will reclaim it's previous highs, a good +15% here and there is still reasonable to expect in lower timeframes.
In the 4H, VARA has been trading in very evident cycles ranging from bullish to bearish. The current cycle, being bearish until we see a reversal of higher lows and higher highs.
When considering the 1H timeframe, VARA often increases 10% up in a few days, which makes for a great swing. The best strategy being buy low and sell high, aiming for +10% which is relatively low risk.
A great starting point to trade coins like VARA would be first t o look at the macro - aka the weekly or zoom out in the daily. What's the general trend direction, are we making higher highs or lower lows?
Form there, you can move to the 4h and do the same - using trendlines to guide support and possible bounce zones. Remember to keep the stop loss tight as the macro is currently bearish, which makes longs higher risk.
Overall, many alts that have been released after the "titans" struggle to hold opening day prices. Few and far are those who actually reclaim and make higher highs 12 months later. And although these coins have more volatility and are great for swing trades, I wouldn't exactly consider them for accumulation.
