Republic Protocol: Volume Activity Gives It Away (2,212% Or...)
Republic Protocol: Volume Activity Gives It Away (2,212% Or...)
Republic Protocol / Tether USD HTX:RENUSDT
AlanSantana
There are several patterns that give away the pairs that already hit bottom vs those that are still in risky waters.
➖ Those pairs that produced a small bullish wave between late 2023 and early 2024, tend to be have a stronger footing right now vs those that grew massively.
➖ Those pairs hitting new major lows followed by an increase in trading activity, look stronger for immediate bullish action vs those that are trading pretty high.
Here we have Republic Protocol vs Tether (RENUSDT). The trading volume gives it away.
We have a more than four years long higher low, that is, March 2020 (low) vs August 2024 (higher low).
Notice the rise in volume after July 2023. And specially the volume on the 5-August weekly session; this candle produced the highest volume ever.
The lowest price in four and a half years, yet the candle closed green and high activity is present recently.
These signals can indicate that this pair is ready to turn. We have a long-term higher low and this pair also looks bullish on its BTC side.
If any doubts remain that the bottom is in, look at the linear chart.
With that said, there can be shakeouts and even a lower low wick, but this wouldn't change the potential for growth in the coming months and in 2025.
We are not looking at new ATH projections and potential in this trade-idea but this is possible in 2025, because of the chart structure.
We can revisit again in the future once we are closer to the next market cycle, the 2025 full-blown bull-market.
Thank you for reading.
Namaste.
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