Review of the Aunit coin
Dear Medium readers,
As Bitcoin and other popular cryptocoins are beating negative records, the Aunit coin demonstrates stability. Now the Aunit coin can perform as one of the options for saving assets if leading coins continue to decline. If earlier you’ve already switched from Bitcoin to Aunit, this current day you could stay without loss and even earn. Of course, this is our comment after the event. However, the Aunit can serve as a safe way, because there is a reliable company behind it.
Next, we’ll share some news.
First, the coin has been listed on one more cryptocurrency exchange: Simex. That is a goos news as the number of potential traders is growing. At the same time, we are in a better position now when it comes to arbitration strategies. The latter will have a full impact after this exchange’s depth is filled and active trading actually starts. The second news is the coming presentation of new developments of the Aunite Group company. As a rule, such events provide support for the Aunit coin.
Technical analysis of Aunit/USD
Last trading week has been a flat time. As in cases with new coins, volumes for this pair are quite high,. Considering the flat trend and high volumes, we can conclude about a good number speculators on the pair who play both long and short positions. There is also a little slant in favor of buyers, which suggests that some of these players are investors and pick up some Aunit coins to their portfolio.
If we look at the flat trend on the daily time frame, we can see that the pair is drafting double bottom based on the last bearish trend. If the second Low of the double bottom is above the previous mark 0.0335, then double bottom falls to the resistance 0.0535. If the second Low bounces off the support 0.0300, then the target will be slightly higher, around 0.0560. If the second Low renews support at 0.0300, then we can forget about the double bottom for a while, but not completely discard the reversal pattern. The double bottom can represent the trend. Either way, instead of a double bottom, it can turn out to be an inverted head with shoulders . Actually one option does not exclude the other one.
The latter option will give investors the opportunity to buy coins at more favorable prices. However, based on how the depth is being filled there are no reasons to think about a decline below 0.0350 on this exchange.
Technical analysis of Aunit/BTC
The situation with volumes on this cryptocurrency pair is approximately the same as with the Aunit/USD pair. We don’t speak about absolute numbers, but about dynamics. Large purchases had been recorded on November 6–7. After that, volumes were recorded on the level of 50–60 thousand coins. The volumes on the previous pair amount to several million coins per day. However, the volumes on this certain pair indicate the presence of speculators, too.
Candlestick picture on this pair is worse than the one on the previous currency pair. However, this does not mean we cannot make money using this tool. The chart is showing support around 0.00000590. It is pricked rather frequently, but then the pair is moving smooth around it. The resistance is at 0.00001000, where the pair is moving following to a rebound from the support of the current range. It makes sense to take profit there a little earlier, which explains why the pair does not touch resistance. Thus, the situation on this currency pair is simpler than on the previous pair, where you need to wait for a double bottom. Everything is quite simple here: we buy around 0.00000590 and sell in the region of 0.00000900. You can buy at a lower level, but the number of transactions may be less or you can just stay out of the market.
I wish everyone of you successful trading and investing.
