Polkastarter is Getting Started!

11 juil. 2021

Polkastarter is Getting Started!

Let's keep and eye on it.

Analysis:

• Candles getting smaller and supporting on trendline (+)
  
• Candles ridding over 20MA as support (+)
  
• Resistance at daily 3859 sats daily (-)
  
• Resistance at 50MA (-)
  
• RSI on bearish region (-)
  
• Volume is getting low, may seen in coming days (-)
  
• MACD lossing momentum (-)
  
• RSI signal tending towards middle line, possibility to break into bullish region if strong volume plays. Or might enter consolidation (*)
  
• MACD tending towards middle line, if volume plays it will be good (*)
  

Entry point
The best entry point will be, once the price breaks and retest the daily resistance at 3859 sats and the 50 day MA. Need more steam to push, so let's wait. I'm assuming once it flips the upcoming resistance with enough volume can easily break the 4419 sats daily resistance.

Target Price
let's aim for a 3 stage TP:

• TP1: 0.00006347 > 60%
  
• TP2: 0.00004082 > 100%
  
• TP3: 0.00006052 > 150%
  

Investors

• Investment Theme: Polkadot Ecosystem
  
• Investment Horizon: Short Term
  
• Category: Crowdfunding, Financials
  

Polkastarter is a platform designed to provide an easy to use launchpad for cross-chain token pools and auctions. It is most commonly used by early-stage blockchain projects that want to raise capital and easily distribute their tokens at the same time. Right now its operates on the Ethereum blockchain, but eventually migrate to Polkadot mainnet, by following the release of parachain.

Polkastarter is ranking around 300+, and there are more potential projects than this to hold for medium to long term. Currently this is best to buy at low and sell at high with in short duration.

** I'm a novice trader, and this is part of my studies. So it's strictly not a financial advice. Feel free to share your thoughts and feedback about my analysis.