Don't know a lot, other than it was a big hit as an ICO - albeit during the golden era of altcoin runs (end of 2017). They are a very ambitious project aiming to tackle blockchain interoperability. They are also part of an alliance with ICON & Wanchain ,which are arguably even more ambitious. There is no real world value, since all these projects are in their TESTNET or BETA phase, but it is not real world value that drives the crypto market today.
TL; DR - a lot of promise, beta only
Price has been in nose-dive mode since it dipped under the MA-50 line in 11-Jan. The line is now acting as resistance. There was a fake breakout on 27-Jan, probably a market event of some sort judging by the spike. I don't care since it went right back down.
We have resistance at the 2944 satoshi level, which we hit 3 times in the last 2 weeks and a few times back in December. This makes it a very tough resistance and any open below this price can mean a more accelerated nose-dive.
A pattern formed after hitting the bottom and was just broken on the upside. For me, this is a very signal.
We crossed the MA-50 line and is increasing slightly - more signals.
First target will be the height of the triangle - 3942 satoshi (16% profit)
Whether this is a buy&hold or an in&out, we'll see after we reach the first target
So, going long, with the stop-loss at the strong resistance - 2944 satoshi.
- The points indicated by the arrows in the graph are 'resistance' and NOT support.
- The first target is the height of the triangle AFTER the breakout, which is around 4400 satoshi