Hello traders !
Giving the oversold conditions of this coin, a short term reversal might be looming. First, last time the RSI was this low, the coin saw a 60% increase. Not saying that will guarantee happen again, but just food for thought.... The 1 $ mark should be staunch resistance because that level has been this coins critical support ever since May of 2017 (see Coinmarketcap log chart)
In my opinion this coins upside potential outweighs the downside risk. Of course still utilize stop loss for however much percentage you're willing to risk.
Happy trades everyone ! :)
Giving the oversold conditions of this coin, a short term reversal might be looming. First, last time the RSI was this low, the coin saw a 60% increase. Not saying that will guarantee happen again, but just food for thought.... The 1 $ mark should be staunch resistance because that level has been this coins critical support ever since May of 2017 (see Coinmarketcap log chart)
In my opinion this coins upside potential outweighs the downside risk. Of course still utilize stop loss for however much percentage you're willing to risk.
Happy trades everyone ! :)