Good day Hiveians!
Join me in analyzing the crypto markets!
This is another update on KOIN
We have had the bullish outlook confirmed and since it broke out at around 15 cents it is currently reaching for new ATHs every other day with the latest being at 1.5$! There is a caveat, however, with there being currently about only 150-300k$ in liquidity on uniswap. This means that there will be huge price volatility going forward with much of the HODLers not wanting to sell.
Mainnet has been delayed to probably Q1 of 2022 which means that there will be a couple more months for it to trade and decentralize. This is a good thing. Currently there are about 2300 holders of KOIN with a large increase in the last days. A recent article by Cointelegraph "Crypto trading face-off: Shiba Inu (78 million percent in a year) vs Koinos (535% in a month) " has put KOIN on the spotlight and highlighting the novelties of this project. On Hive we are very familiar with many of its features like "mana" and free transactions.
Let's have a look at the TA:
It is currently trading in a channel. It is unlcear how high it will go up as we don't have a lot of historical data. However, looking at the KOIN/ETH chart gives us a better clue:
I think an increase could continue until hitting the trend line here. This would be about another 90% gain (relative to ETH). I don't think that prices will sustain the upward momentum much longer as many holders have already seen a 10x by now. A minority will sell and take some profits.
Check out their discord and telegram channels if you are more interested!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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