My Analysis and Plan for XYO/USD

27 Des 2024

Alright, let's dive into what I’m seeing on this XYO/USD daily chart. I've had a look, and here’s my perspective on this coin.

Technical Analysis:

Significant Pump and Dump: The most obvious thing on the chart is the large pump and dump that happened in November and early December. I am seeing that the price went up very quickly, and then went down very quickly too. This leaves a lot of traders unsure about what to do.

Recent Rejection: Since the big dump, the price has consistently been rejected from the $0.023 area. Every time the price tries to move up, it can't seem to break through that level, which indicates there is a lot of selling pressure at that price level.

Support Zone at $0.018: The price is showing a potential support level in the area of $0.018, which gives me a potential for a lower risk entry point if that support continues to hold.

RSI Near Neutral: I'm seeing the RSI is near 50, which shows no real bullish or bearish momentum. This means a move can happen either way.

My Action Plan:

Based on what I’m seeing on the chart, here's my plan:

Entry:

Primary Buy Zone: I am going to be watching the $0.018 area closely for a potential entry. If the price bounces from this area, and I see strong bullish candles, I will likely place my entry order around $0.018

Alternative Zone: I will also be watching for a strong move through the $0.023 area. I will consider placing a trade after a successful move through this level.

Stop-Loss:

Tight Stop: My stop-loss will be placed below $0.017. I don’t want to risk a larger loss if the price fails to find support at the $0.018 zone.

Take-Profit Targets:

Short-Term Target: My initial profit target is around the $0.023 level. I will evaluate the price action to see if it will move higher.

Mid-Term Target: My mid term target is going to be around $0.038 - $0.04. This is a key area of resistance in the chart, so it makes sense to target that area.

My Overall Strategy:

I'm currently observing the $0.018 support level for a potential entry, I will want to see a clear bounce off this zone to confirm the trend. I will be setting a stop-loss below $0.017 for risk management. I will also look to enter a position after a move through the $0.023 resistance with clear bullish momentum. I am setting a short-term profit target at $0.023 and a mid-term target at $0.038-0.04.

That’s my plan – focusing on the key price action and being adaptable depending on what the market is doing.

30 Des 2024

Trade aktif

exactly as i predicted, xyo pumped and touched .023 cent