Dear readers,
At the beginning of the article, I will share the fundamental analysis. The good news from the BTC-alpha.com exchange: Aunit coin is still gaining a better popularity. Aunit/USD pair was ranked the third in terms of volume, having exceeded BTC/USD trading popularity! Yes, yes, exactly, that Bitcoin, the first cryptocurrency in the world. The trading volume of the Aunit/USD currency pair has been over $100.000. This achievement has been recorded on November 6, 2018. Mind that the Aunit coin was listed on this exchange about a month ago. The technical picture is that drawn when coins are bought by a major player, but this will be considered in the second part of the article. We believe the coin is gaining popularity at a rather rapid pace.
Aunit/USD currency pair is also actively traded on the second cryptocurrency exchange, where the listing was received a little more than a week ago. Perhaps arbitration is starting to work, perhaps investors are buying coins on different exchanges to get a better portfolio, in fact, this is not as important. The growing popularity is supporting the coin, but there is no steady bull trend, which suggests that not all major players have collected their portfolio.
Technical analysis of the Aunit/USD cryptocurrency pair
Today the pair remains the most popular one of three pairs traded on the exchange. Despite a small history record of the coin, it is possible to clearly mark the support level 0.0375. Recently, this level performed as resistance, but this has not been for not long and as a result received a false breakthrough. Based on these two moments, you can build your trading tactics for several days: as long as the pair is being traded in the support area or the level of 0.0375.
At the beginning of my review, I mentioned that someone was buying the coin in big scales, which is proved by good support that had worked smoothly. Quite chaotic leaps upwards also prove that. On the peaks of jumps, we can see small players trading. If the opinion about a major player is correct, then this is an additional support for Aunit coin. However, it is difficult to use it for earnings, in contrast to the dry technical analysis. A dry technical analysis suggests that since the currency pair is being traded in the support area and if there is a downward movement, it can only repeat the previous false breakthrough, then it is time to think about purchases. Since there are two options for a rebound from the support 0.0375, then you can enter in two steps: the first step is to buy from the market, the second one buys after a false breakthrough. The second option should be purchased at the beginning of the formation of a reversal figure, which will be below the level of 0.0375.
Technical analysis of the Aunit/BTC cryptocurrency pair
This currency pair is a little underestimated.Templates of the technical analysis can be easily applied here.
The first thing you should pay attention to is horizontal support 0.0000600, then 600. The currency pair has pierced this level and if it does not consolidate there (judging by the green candles, it will), then you can wait for an upward rebound based only on these simple assumptions.
The option is a bit more complicated as it also suggests a beautiful rise, which worth considering in more detail. The arrows on the chart draw a double bottom to the last trend down. There are also two parallel channels that use the two bottoms of a reversal pattern and cannot be marked in a different way. There is a false breakthrough, as we mentioned above.
Using this markup, we can outline a scenario that may occur. The first step is to draw a local intraday double bottom figure at the horizontal support area 600 and make the price work out to the middle line of the two channels, which is the resistance of the lower channel. In this movement, the first goal worked. The second step is to break the resistance of the lower channel and wait when the price works out the resistance of the upper channel, which will be the second goal. Now the first step is starting to be worked out, a rebound with a false breakthrough from the support 600. It means you can enter into two parts: the first part is the purchase from the market, the second part is an alternative step in case the figure reverses and breaks resistance. You will need to partially exit out of channel resistance. Next, we wait for correction around the middle line so that a breakthrough will give a signal to boost purchases. Profit shall be taken partially at the upper red line. Since all lines have the trend character, I can’t refer to exact quotes, you need to monitor the market and move the Closes of transactions.
So, the coin is quite promising as showed a great boost of activity.
Wishing you lucky trading!
