rhasan1987
Długi

NPXS PUNDI/BTC

BINANCE:NPXSBTC   Pundi X / Bitcoin
A fellow TradingViewer asked me to do an analysis on NPXS PUNDI X so here's a simple overview.

This coin is hard to call because taking a look at it since launch it has been in a constant downtrend. I don't know much about the fundamentals about this coin even though I made some nice profit off it back in January 2019 when there was a surge but that was me just being there at the right time and right place tbh.

So looking at the daily chart , we can see that it's at an all-time low, and RSI levels show seriously undersold, however I feel like these ranges are worth buying in with the risk/reward ratio very high because last time it hit ATL , there was a decent bounce. If I wanted to play it safe however, I would keep my buying and selling within tight ranges. Even big volume breaks haven't been able to pull this coin out of its slump so that's concerning. Anyone looking to invest into this might want to look into the fundamentals and see what people are saying on NPXS's reddit/social pages because that would be a good indicator.

The Moonphase indicator gives us an idea of the tight buying and selling ranges that I've mentioned.




If these RSI levels don't hold, I am expecting a drop to the ATL levels before a bounce happens. Doesn't look like like any bullish divergences forming, at least not any solid ones. Reason I'm saying this is, if you look at the charts, you'll see there have been many 'false' indications, that is, it looked like some sort of bullish momentum forming only to fade away.

Also, many a times there have been consolidations around a price range for this coin only to drop further. The same goes with similar coins such as DENT.

Take a look at the overall picture. ChandeMomentum Oscillator shows overwhelmingly negative zone areas. If you add up the total area of the below zero line vs total area of the above zero line, it shows a very negative picture in the short and medium term at least.


BUT, one silver lining might be how low the prices are right now. Currently trading between 0.00000007 and 0.00000009 ranges, how low can it go? As long as this is a legitimate project and there are investors, there is possibility of a big bounce. Again, I'm not sure about the fundamentals of this coin so people interested might want to look into this. Also, since we're coming out of the bear market and more money if flowing into altcoins in general, this might see a revival. After all, this coin dropped after the crypto bear-market began, so the valuations might be on point, but might have been affected by overall market sentiments.

Would I buy this? Not without understanding the fundamentals and social-trend following. If I do, I'd put stop loss 1-2 sat below what I bought in. If I had more capital to risk, I might take more risks because all said and done, these are very, very low levels and the rewards can be pretty insane.



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