JUST (JST) The Next Gen of DeFi Price Action Analysis | 10% To @tron-fan-club
Hello and welcome to episode 26 of TA (Technical Analysis) Today we are diving into The JUST (JST) Token!
3 days ago, I told you about JUST Token which is based on TRON blockchain which I also discovered recently. Fundamentally this token sounds quite good but today I will do its technical analysis based on which I will also plan my investment in this token. If you look at the all-time chart of this token, you can see that there is a gap of 500% between its all-time high and CMP today, i.e., if seen from the all-time high, this token is available 500% cheaper today.
Also, if we look at its all-time low to the current market price, the price is comparatively trading very close to its low, which you can also see as an opportunity, not only because it is close to the low but because the price has held itself above its all-time low for more than one and a half years.
Think of it this way, if the price action had been continuously forming a lower low structure, it would have been a sign of weakness but since the price has made an all-time low in November 2022 and is holding above that low since then, it indicates strength in the token.
In the above screenshot, you can see the all-time low and current market price of this token and by looking at the yellow line shown on the chart, you can also understand the structure of higher highs in this token in which the intensity of upmoves can also be seen, although the prices do not sustain at the higher levels and a decline is also recorded in it, but the support line still remains intact in its place.
But all this is a part of higher volatility and after remaining at lower levels for such a long time, if there are up moves in it now then it is obvious that old investors will book some profits and buying momentum will also be created again at the support.
There is a gap of 20% from the current market price to the yellow trend line below. I think that in the next few days, the price may once again come close to this support line, so either I would like to buy it then or if it gives a bullish closing above 0.040 in the daily candles, then buying it can prove to be profitable. Although this strategy is based on short-term investment, but if you look at it on a long-term basis, then one can buy anywhere at these lower levels and sit with patience for bigger profits.
I appreciate your in-depth technical analysis of JUST Token. Identifying its stability above the all-time low is insightful. A strong support level for over a year adds confidence. I am personally looking forward to your investment strategy and further discussion in the upcoming posts.
Thanks for this appreciation. I find this token good for both short and long-term investment and I will definitely share my strategy for investing in this token in the future.
Upvoted! Thank you for supporting witness @jswit.
I don't have a good understanding of charts, thank you for explaining them through charts.
What matters the most is the psychological understanding of the market! : )