Analytics
Reading time: ~2 m
Considering the current situation in the crypto market, altcoins provide good opportunities for trading. Of course, this does not apply to all alternative coins, as some order books are small and the available liquidity is close to zero.
A good technical indicator to use when trying to determine which altcoins to trade is 1W SMMA 7, which will help identify short-term trading opportunities.
Weekly TORN/USDT chart (Source: TradingView)
TORN could be a good short term opportunity given that liquidity spiked 2-3 weeks ago. Going forward, the token is unlikely to reach the level it touched after the recent surge. Looking at the weekly TORN chart, lower lows can be expected in the coming weeks.
LINK/USDT weekly chart (Source: TradingView)
Looking at the weekly chart of LINK, we note that its price was able to hold the lows and enter a long consolidation. SMMA 1W is flat and the price is trading around it. As a result, LINK is likely to pump up to the 1D 200 MA, which could be a good trading opportunity.
RUNE/USDT weekly chart (Source: TradingView)
RUNE managed to hold a low on the weekly chart, after which it entered into a long consolidation, but traders have not yet taken liquidity from the upside. In this case, RUNE can provide a good short-term scalping up to about 1W 7 SMMA.
#Altcoins #Provide #Great #Trading #Opportunities
