Sleepless AI token is regaining its strength!
Hello and welcome to episode 16 of TA (Technical Analysis) Today we are diving into The Sleepless AI Token!
We have been closely monitoring the price action of this token for the past few weeks. I have told you about my position and also about profit booking in the recent upmove and just 3 days ago, we have also discussed in detail about the price consolidation going on in this for the past few days.
In the previous blog I told you that even though the price is holding above an important support, there is also an important resistance very close to it. So until that resistance is not broken we cannot think about fresh buying in it.
But in the last 2 days we saw that after the pressure in the US market, a panic was seen in the crypto world as well, in which good selling was seen in many tokens and instead of breaking the resistance in this token, it broke the support, after which the price was seen taking support of the higher-low trendline of the current uptrend, which you can see marked as the orange trendline in the screenshot shown above.
And today we have seen a total upside move of more than 18% in this token. However, there are still hours left for the day to end and a good sign will be when the price will sustain at these upper levels and we will see the continuation of the price.
Yesterday I was busy when the price came close to this support, otherwise, I would have definitely added some quantity here, but now my strategy for this token remains the same, I will wait for the price to make a bullish close above 0.86 and only after that I will think about adding quantity to it. By the way, this white trendline here is acting as another minor hurdle since we had closed below it in the fall 2 days ago, so now sustaining the price return above this trendline will strengthen the confidence of buyers.
Upvoted! Thank you for supporting witness @jswit.
You have given very important information about Sleepless AI token, which is very useful for us
Thank you!
I think with the chart analysis of this AI token, it will be so perfect to invest in it right now because it definitely looks like it is going to do well in years to come most especially in the bullrun