Welcome back
Today we are going to talk about some of the cryptocurrencies which have performed really well after the recent crash on 10th of October and then again a crash in the month of November. They are still doing well in my opinion and I am going to talk about them.
The very first coin which I think has performed nicely is Fartcoin. It came down to as low as $0.17 and today it was trading above $0.40, which is more than 2x for the token.
A few days back I shared analysis of the token where I told that $0.22 is the price where it is safe to buy because the confirmation of the major support line was seen near $0.17–$0.18, and that is where Fartcoin made a reversal. Now it is already trading 70–90% above from that price and I am really happy about it because I own this token.
The thing is that in the current market situation, most of the tokens are still trading below their lows from December last year.
At that time people were praying that their token should at least come back to the price where they bought it, but now the levels are even lower than that month. So just imagine how the market is reacting to everything that is going on.
There are rumors that Donald Trump might fire Jerome Powell and a new Fed Chairman might be chosen very soon. But I do not know if that is actually going to help the crypto market. Maybe it can even be a bad sign for the market and we might see a crash as well.
On 10th of December, another important event is coming which is the FOMC meeting, so we have to keep an eye on that because if the rate cuts are announced, then probably for a little while we should see some correction in the market and some new levels for the tokens that are already trading at lower prices.
So make sure to not live in the dilemma of earning 10x, 5x, or anything close to that because the market has matured and it is not going to give the same results as the previous cycle.
Just stick to the token for short term, book your profit at 40–50%, and then find a new one to make profit. That is what I am going to do, and that is how my approach is going to be in the market from now on.
That is all. Thank you and happy trading everyone.