Fast – xMetaMarkets.com / Online Innovative Trading Facility Mon, 23 May 2022 10:49:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 /wp-content/uploads/2022/07/cropped-Logo-menu-32x32.png Fast – xMetaMarkets.com / 32 32 Fast Hitting Trades Attractive But May Be Painful /2022/05/23/fast-hitting-trades-attractive-but-may-be-painful/ /2022/05/23/fast-hitting-trades-attractive-but-may-be-painful/#respond Mon, 23 May 2022 10:49:48 +0000 https://excaliburfxtrade.com/2022/05/23/fast-hitting-trades-attractive-but-may-be-painful/ [ad_1]

SOL/USD occupies the lower realms of its value range still, and has even produced a slight incremental climb higher in the past day which may attract thrill seekers.

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SOL/USD is trading slightly above the 52.0000 level as of this writing. This past weekend however, Solana spent some of its time traversing near the 49.0000 juncture as some early selling pressure developed on Saturday and shadowed the broad cryptocurrency market until Sunday morning. Since then, a slight incremental climb has been achieved and traders may find the current conditions attractive.

As a warning, SOL/USD still is within the lower tier of its long term price range, Solana is traversing prices not seen in earnest since August of 2021. Yes, on a spike lower when violent selling hit the digital asset market the 12th of May, SOL/USD did penetrate the 36.0000 ratio briefly. While some may point to the gains SOL/USD has made since then and proclaim a victory and a parade higher to gain momentum, these people will be in short supply.

Day traders need to remain cautious with SOL/USD, and the best recommendation may be to seek fast hitting trades using risk taking tactics which cash out of the market quickly while seeking to ‘scalp’ the cryptocurrency market.  Gains have been seen in the major counterparts of Solana also, but the reversal higher across the digital asset board could prove to be short lived. Nervous conditions remain and a true breakout higher technically has not been spotted as a trend.

Using take profit orders to accomplish a winning bet on upside price action to challenge nearby resistance may feel worthwhile. However, stop loss risk management should be fully in place, just in case a sudden rush of selling is about to emerge again. Resistance near the 52.7500 level looks like it may prove durable. If support near the 51.7500 mark suddenly finds that it is vulnerable SOL/USD could find lows being tested rather abruptly again.

Behavioral sentiment in cryptocurrencies has proven a difficult battle; reminders of the long term bearish trend are still in clear sight.  While some speculators may feel the need to look for reversals higher, cautious traders who are still skeptical of the cryptocurrency market may believe remaining a seller of SOL/USD after slight climbs have been seen, is a way to ignite selling positions while looking for support levels to be challenged again sooner rather than later.

Solana Short-Term Outlook

Current Resistance: 52.7500

Current Support: 51.7100

High Target: 56.0600

Low Target: 48.8800

SOL/USD

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Fast Conditions and Extended Climb Continues /2022/03/29/fast-conditions-and-extended-climb-continues/ /2022/03/29/fast-conditions-and-extended-climb-continues/#respond Tue, 29 Mar 2022 10:47:46 +0000 https://excaliburfxtrade.com/2022/03/29/fast-conditions-and-extended-climb-continues/ [ad_1]

AVAX/USD has produced volatility the past day, but the cryptocurrency has extended its run higher while also providing speculative fireworks.

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The past day of trading in Avalanche has produced quick results, which are likely testing the fortitude of speculators who are pursuing AVAX/USD. In early trading today, Avalanche reversed lower after achieving a high yesterday of nearly 96.20000000, sinking to slightly below the 89.00000000 ratio a few hours ago. However, AVAX/USD quickly reversed higher after hitting this low and its bounce has taken the cryptocurrency above the 94.20000000 mark as of this writing.

Bullish technical traders may be fueled by an optimistic outlook as AVAX/USD is within sight of mid-February highs. On the 17th of February AVAX/USD was trading above 98.00000000. Yes, on the 24th of February Avalanche was trading a hair under the 64.50000000 mark, and then produced choppy trading higher until the 14th of March when AVAX slumped again within sight of the 65.00000000 level. This is written as a warning to speculators who believe Avalanche will not slide lower again.

However, like the broad cryptocurrency market AVAX/USD has been able to produce a solid trajectory higher for almost two weeks.  Volatility is not extinct; there will be fast moves within AVAX/USD that is promised. Speculators need to understand Avalanche can move in a hurry and entry price orders are strongly advised.

If AVAX/USD is able to sustain its current price range and shows ability to keep trading above the 94.00000000 today, this may be a solid signal that speculators may be anticipating higher moves. The recent move upwards in AVAX/USD still has the cryptocurrency within the lower realms of its six month charts, but Avalanche is certainly showing signs of challenging highs within its three month pattern.

 If AVAX/USD picks up additional momentum and the 95.0000000 and 96.00000000 marks are suddenly challenged again, some optimistic bulls will likely target higher ratios like the 98.00000000 juncture. The broad cryptocurrency market and the major digital assets are showing signs of life, and are flirting with important mid-term highs. If sustained trading starts to make resistance levels vulnerable another leg up may come sooner rather than later, including in AVAX/USD.

Traders need to use risk management effectively.  After sustaining a serious bearish trend since November, AVAX/USD is beginning to tangle with important resistance and show enough strength to create anticipation of higher values. However, until AVAX/USD breaks above the 98.00000000 level, traders may remain suspicious about potential reversals lower also.

Avalanche Short-Term Outlook

Current Resistance: 95.60000000

Current Support: 93.55000000

High Target: 98.90000000

Low Target: 88.85000000

 

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