Cindicator CND Update. Looking to be in Wave 4? Wave 5 to 4300sats (Conservative)
Cindicator has all the attributes of a strong coin, and I think that this coin has a lot of potential to grow (potentially to be a solid top 40 coin). They have an excellent and innovative AI project which has the potential to attract institutional investors. Currently, it appears that Cindicator is retracing a bit off its all recent time high. However, a downtrend has not been confirmed via moving averages, so it is safe to say that the coin will continue to rise for some time.
CND is still in an impulse stage
It appears that we are in wave 4. Looking at the charts, wave 2 seems to have been a shallow retracement. According to wave theory, wave 2 and wave 4 have an opposite character, so it is no surprise that wave 4 is retracing more steeply. Conservative targets are at about 4500sats. This would give a 1-1-1.618 wave ratio for this impulse. More aggressive targets would be the 6000sats and 7500sats range. This would bring the price of CND to the 0.70-0.80$ range depending on the price of BTC , and overall market strength.
The close observer will notice that my wave analysis sometimes lands on candle bodies and other times lands on wicks. Here I am looking for Fibonacci levels as well as overall consistency in the impulse. Based on the recent price action on the coin, my intuition tells me to hold for a long position (maybe months). Note that moving averages indicate a strong uptrend that will take a large amount of sell pressure to break.
Some Advice. Get to know the CND Project!
Sign up for Cindicator on their website and learn more about their project. There you can become an analyst for free and you can keep track of this great project. By simply entering your predictions into their AI, you are helping to strengthen their project!! Note that I do not work for CND, and I have no conflict of interest in this regard. I simply like their concept and I believe that they will continue to develop.
Confidence 4.0/5.0
@mxcrypt
Standard Legal Note
These solely my own ideas. This is by no means professional financial advice and I cannot be held accountable for any investment decisions undertaken by reading this article.
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i still feel like CND is being pumped like crazy and is up for a big down fall
Yes. Impulse waves can certainly feel that way. However, CND does appear to have a working product which is attracting institutional money. I am still fairly confident that, corrections aside, this coin will grow in the long term.