Since the 19th of August this year, I started paying close attention to the movement of the prices of three tokens in the Leoverse: SURGE, LEO, and LSTR.
SURGE
In my first post, I realized that SURGE is "a new hybrid token from LeoStrategy that aims to provide stability, passive income, and speculation opportunities in the crypto market" (AI Prompt). I also noted that in just five weeks, more than 50% of the initial sale of 500,000 SURGE has already been sold. I speculate that before October ends, the remaining 233,682 SURGE will all be sold out, and that is why I am thinking of adding 60 more SURGE to my holdings. Currently, I hold 90 SURGE; that is still very small compared to the wallets of many SURGE holders. Once the total 500,000 SURGE has been absorbed by the holders, I wonder what's next on the mind of the Leo team. Will they issue another supply of SURGE at a higher price?
It is interesting that the token was introduced on last 11th of August. In my eyes, its success is remarkable.
LEO
As for the performance of the LEO token, 15 days ago I raised the question as to the applicability of one technical indicator to its price movement. A commenter does not think that the technical indicator is applicable to a low-volume tribe token like LEO. With small trading activity, prices can easily be manipulated in either direction. As such, it is not surprising that pumps are usually followed by crashes.
As for me, even though I recognized the difficulty of applying technical indicators to the token, I remain optimistic about LEO's long-term potential. What is needed is patience and a long-term mindset. Nevertheless, this does not mean that I would not take advantage of the short-term volatility in the price movement of the token. That is why I sold 40% of my holdings and used them to buy SURGE and LSTR.
Moreover, I have also been tracking the trading decisions of big holders of LEO. So far, I have observed at least four accounts. One sold 100,000 LEO tokens. I wonder what the goal is. The good thing is that despite that large sale, the price of LEO did not crash as the above commenter conjectures. The relative stability of the price of LEO indicates strong buyer sentiment. Source
A bigger LEO holder also sold 150,000. This to me indicates that price consolidation will be extended. Once such consolidation is completed, a potential rally could follow once selling pressure subsides. Source
Three days later, I highlighted the breakout above previous resistance levels and the exit of consistent sellers from the market. Again, this suggests a resumption of a potential uptrend as buyer momentum increases. Source
LSTR
As for LSTR, in just 29 days, the price rallied from 12.44 SWAP.HIVE last 19 August to 21.42 SWAP.HIVE last night. That's a 72.18% profit in less than a month. Such an opportunity does not happen all the time, and that is why I sold 10 LSTR last night, profiting 89.8 HIVE.
I am now out of LSTR. I will just compensate for it by buying SURGE.
In my case, I sold LSTR to strengthen my SURGE holdings. Another account unstaked 77,529 LEO tokens, but instead of selling, the tokens are being transferred and used to buy SURGE. Source
Using SURGE Sales to Reinvest in LEO
My final observation is about the strong sales of the SURGE token, resulting in a reduction in unsold tokens. I think this buying momentum could lead to an increase in the price of the LEO token in days and weeks to come as funds are reinvested. Source
That's the overview of my tracking of the price movements of LSTR, SURGE, and LEO that influenced my trading strategy and adjustment in my holdings.