Good day Hiveians!
Join me in analyzing the crypto markets!
Only 5 days ago we talked about a potential breakout for Koin
KOIN is currently trading in an ascending channel and it seems likely that a breakout to the top could happen soon.
We didn't have to wait very long for it to happen. It is currently trading for about 60 cents with an ATH of about 70 cents.
I would expect a stabilization at around 40 cents before further upward movement occurs. This would be in line of a retracement to the upper trend line seen so often before in (al) coins.
There is a caveat however. It is currently trading only at uniswap with only 300k Koin remaining. Liquidity therefore is very thin and even small market orders will have a big impact on price. Until mainnet launches and Koin is listed on other DEX CEX platforms, expect more heavy price swings. With only about 1,800 holders, one definitely still belongs to the early adopters group.
Again, to recap; Koin is interesting because of several factors. Among others include:
-supply of 100 million
-experienced team
-innovation: modular upgradeability of the blckchain means no hard forking among other things
Do you have some Koin or think about inveting in it?
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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