Speculation has returned to crypto and it has come with a vengence. People who have been in the space for a while alongisde people who are just now getting into the space are interested in crypto once again as a tool for speculation and investment.
A lot of capital is flowing in and out of the market right now which makes for wildly volatile swings and major opportunities to buy and sell crypto for a profit.
In Bear Markets you want to hold cryptocurrencies that have great fundamentals and a large community supporting them. I would say currencies like HIVE, BTC and ETH fall into this category.
In Bull Markets you want to trade in and out of the highly speculative cryptocurrencies and then reallocate profits toward solid projects that are trading at a discount.
What I'm saying is, in crypto bull markets, fundamentals are almost an afterthought. Who really cares about what your project is actually doing if your coin is jumping 100x and people can jump on and make a few quick bucks??
ZRX is a coin that many like for its fundamentals - I am not one of them.
I am simply a trader and I'm following the speculation.
ZRX is poised to take advantage of a lot of speculation - thanks to DeFi, Coinbase and several other factors. Given that, I am looking to enter a position on ZRX around the 3500 SAT level.
After peaking out at 5k SATs, ZRX is now trading at nearly half the price around 3700 SATs.
My bids are set and the support at 3200-3500 SATs looks very strong. Of course, anything can happen because this is crypto after all.
Looking at the chart, it's hard to see a well-recognized, top 20 coin like ZRX fall below 3200 SATs. If it continues to drop after my initial bids are filled, I will set more at the next support level and wait for a rally.
In short:
- Target Entry: 3500 SATs
- Target Exit: 4600-5000 SATs