Altcoin trade hq 5 day moisture

For starters, what you need to do is to calculate the price of the coin over a day period. Another more dynamic approach is called exponential moving average and is used to identify and more realistic short-term trends in the market.

Like you can calculate 5-day averages and then compare it to the day average.

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If the day average is less than the five day average then it is clear that the market is currently in a bearish trend and the price may decrease in the coming times. You can shorten the duration of the moving averages even on an hour level and you can predict where the market is really going in the short-term.

Support and Resistance This is another fundamental yet useful technique in analyzing the market and predicting the future price point. The support and resistance method gives a good measure of demand and supply of any major altcoin in the market. The support level is easily defined as the lower price level that traders are all ready to buy a currency at. So, if price drops so does the support price.

Support and resistance The Resistance is the theoretical price at which coin traders are ready to sell the coin at. This is just like a floor on the stock exchange and behaves similarly. So support and resistance are lower and upper price points in the dynamic setting of bitcoin and there is no actual measure of how to determine them but just by observing the market.

Now what the market does is that when it reaches the resistance price, it immediately bounces back up as buyer activity increases driving the price up. When it reaches the resistance point, the price immediately comes back because of increased selling trend.

Mostly, support and resistance are only used for short-term day trading and are very effective tools. Volume trading While most of the focus is on the price of the altcoin, the volume also plays an important role in the future of the altcoin.