It is known that the perception of investors is more especially for the coins that have experienced a serious rise recently.
This situation, which often results in disappointment, results in large losses for investors.
Especially recently, the coins that have risen seriously seem very attractive because they create the perception that “it will rise more, I should invest all my money here”.
In this article, while analyzing some of the coins most followed by Turkish investors according to Coingecko data, we aim to prevent grievances by mentioning the buying and selling points in a logical framework.
Baby Doge Coin (BABYDOGE)
Especially Elon Muskmade famous by dogecoin It is known that many “dog-themed” coins made an upward movement after the fury.
Starting out with the concept of being a child of the original Dogecoin Baby Doge, just like DOGE, is a cryptocurrency that was created as a joke.
Having an increase of 15% during the day and approximately 54% in 7 days. BABYDOGEis moving within the ascending channel.
The most important support point on the 4-hour chart is the blue trend line and the 4620 level.
If there is a drop below this level, it is very likely that the next support, namely 3500, will be seen.
In order for the upwards to continue, the $ 5635 level, which it is currently testing, must be broken. Since it is a joke-oriented coin, it does not seem to be a very healthy investment in the medium and long term, although it is possible to experience an uptrend just like DOGE once experienced.
For this reason, if such coins are to be invested, it is recommended to invest the amount of money that “will not be a problem when lost”.
Radio Raca (RACA)
With its 150 percent rise in December, it attracted all the attention. metaverse project RAJAHWith the decline of Bitcoin, it experienced a 50 percent decrease from this level.
The most important support point for RACA, which is currently at 0.002346, is seen as the $0.0020850 level. In case of a breakdown below this level, the stop route may be preferred.
The biggest obstacle in front of it to rise again is the $ 0.002875 levels. If Bitcoin starts to recover and gets rid of risky levels, it can be expected that the rises will continue in RACA.
Because RACA, which is one of the prominent projects in the Metaverse sector, is considered to be evaluated as a long term.
Pitbull
PIT, which is also one of the “dog-themed” coins and released in 2021, has become very popular in recent days.
Standing out especially with the listing of some exchanges, PIT made a name for itself with its 500 percent rise in November. However, it continues to upset its investors with the subsequent declines.
When we look at the graph, it is seen that the most important support for PIT, which has increased by 10 percent in the last 7 days, is 1290 and 1210. Especially in case of a decrease below this level, the way to stop can be preferred.
Again, the critical resistance point is 1510. If there is a break above this level, a target can be set up to 1743 levels with an increase of 15 percent.
However, as we have warned before, if such coins are to be invested, they should be invested in “amounts that will not be upset when they are lost”. Otherwise, you may face serious damage.
*Not investment advice.