Is this the only coin you need to care about⁉️
- Yello, ladies and gentlemen🍸😎!
💎Market corrected to liquidate accounts of overleveraged traders seeking quick gains and perfectly retested our strong support zones on many great and strong coins. Many panic short positions were opened on BTC at around $59k (support) and are now trapped as the market makers pushed the price up. After this short squeeze is done, we expect one more leg down, which will psychologically increase the bearish bias of even more people. Their selling liquidity will work as so much needed fuel, which will create a reversal point for our continuation journey above $120k and the start of the real altseason.
💎Small corrections like today are always an excellent opportunity to observe which coins are actually worth your money and which are not. One of the coins which behaved very robust during this quick sell-off was #AION.
💎AION is a token launched in 2018 in Canada and is used to secure and access the Open Application Network (OAN). The OAN is a public network available to everyone. Managed by an Open Foundation, a registered not-for-profit organization, OAN aims to give the public an environment to create Open Apps freely. Unique project indeed, and as the blockchain space evolves, more people will realize how useful and helpful this is.
💎From a technical point of view, this gem is at the moment lying above a powerful demand zone. RSI is in the oversold region on HTF, and MACD crossover is showing bullish momentum.
💎As you can see on the chart below, we are breaking above the trendline and just retested successfully.
💎In the past, we have already seen AION start an uptrend from this accumulation zone. The current market situation is creating a great environment so it can happen again with a significant probability.
💎On the LTF timeframe, we have suspected a trend reversal by breaking above the trendline, and 50ma went above 200ma (golden cross). We are currently holding well above these confluences even when BTC has a correction, signalling a great strength overall.
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