2CRZ critical region 2 breached; potential consolidation period
2CRZ finally had a major increase in volume yesterday after about 2 months of meager price action, in which it moved from a high of $0.1033 down to a stable trading range of $0.03 to $0.022.
A reversal occurred yesterday, peaking at $0.085, after an 80% breakout to $0.0625 8 hours prior.
The breakout pattern on the chart was identified prior to it's 55% increase, but the price couldn't sustain above the $0.0635 level.
In all honesty, I'm personally a fan of the core idea behind this project, though I question if the team can get the job done efficiently.
A few things to note regarding the coin:
- Only upon the coin hitting a 100% gain on the day did the team begin to tease news, eventually sharing that they partnered with an e-sports franchise, also paying two former NBA players (Nate Robinson and Mario Chalmers) to post identical uncommitting, copy-and-paste tweets about the coin which was met with zero enthusiasm by their followers, and made the project appear pretty pump and dumpy.
- Correlating with the previous idea, their price actions seems to heavily rely on teasing secret news on twitter (creates small uptrend), followed by the release of the news (often met with a price retracement -- besides the news from last night, which relied heavily on the successful price action of that entire day)
Anyway, if the team can continue to establish good connections with professional athletes in E-sports and other realms, expand their listings on exchanges, then they should definitely be a coin to keep an eye on regarding quick growth, and the price action of recent points toward a nice entry point, hanging right above bottom level of resistance (I believe around 68% retracement from it's stable high of yesterday, 100% of peak).
Please let me know how you feel, if you agree, or i'f I'm totally 100% off and should stop immediately -- I've just started doing this lol.
Thanks
A reversal occurred yesterday, peaking at $0.085, after an 80% breakout to $0.0625 8 hours prior.
The breakout pattern on the chart was identified prior to it's 55% increase, but the price couldn't sustain above the $0.0635 level.
In all honesty, I'm personally a fan of the core idea behind this project, though I question if the team can get the job done efficiently.
A few things to note regarding the coin:
- Only upon the coin hitting a 100% gain on the day did the team begin to tease news, eventually sharing that they partnered with an e-sports franchise, also paying two former NBA players (Nate Robinson and Mario Chalmers) to post identical uncommitting, copy-and-paste tweets about the coin which was met with zero enthusiasm by their followers, and made the project appear pretty pump and dumpy.
- Correlating with the previous idea, their price actions seems to heavily rely on teasing secret news on twitter (creates small uptrend), followed by the release of the news (often met with a price retracement -- besides the news from last night, which relied heavily on the successful price action of that entire day)
Anyway, if the team can continue to establish good connections with professional athletes in E-sports and other realms, expand their listings on exchanges, then they should definitely be a coin to keep an eye on regarding quick growth, and the price action of recent points toward a nice entry point, hanging right above bottom level of resistance (I believe around 68% retracement from it's stable high of yesterday, 100% of peak).
Please let me know how you feel, if you agree, or i'f I'm totally 100% off and should stop immediately -- I've just started doing this lol.
Thanks
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