SuperFarm (SUPERUSDT) Analysis
SuperFarm (SUPERUSDT): A Technical Breakdown and Price Forecast | January 29, 2025
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This information is for educational purposes only. Nothing written, expressed, or implied here should be looked at as investment advice or an admonition to buy, sell, or trade any security or financial instrument. As always, do your own diligence.
SuperFarm (SUPERUSDT) Analysis
The alt coin bull run is testing everyone’s patience. Keep the following quote in mind, “The market can stay irrational longer than you can stay solvent.” I do think we’ll see some of these alt coins with stronger fundamentals bounce soon. The market’s goal is to make as much money as possible so I believe things will bounce when the majority of participants begin thinking we’re never going to see an alt coin rally. When you see the bearish headlines and your friend who always buys the latest meme coin selling all of their crypto - that is your signal to buy.
The sectors that I believe will rally the hardest are AI, Gaming, and Gambling. SuperFarm is involved in NFTs, DeFi, Gaming, and NFT Farming.
Weekly Chart
We’re at an interesting confluence zone with SUPERUSDT:
AVWAP since price inception: $0.6174
AVWAP from ATL (all-time low): $0.6963
200-week SMA: $0.6404
Long-term trendline support: $0.5819
Elliot Wave Theory; currently in a 4th wave retracement which states “a shallow correction where the price pulls back less than 38.2% of the previous wave 3, often ending around the 38.2%, 50%, or 78.6% Fibonacci retracement level, signifying a period of consolidation before the final impulsive wave 5 begins.”
The ultimate target is the Golden Pocket Fibonacci Retracement sitting between $2.97 - $3.12.
Daily Chart
Furthermore:
78.6% Fib retracement sits at: $0.7769
4-Hour Chart - Trade Idea #1 - LONG
Bullish convergence on the RSI as price is falling, strength is rising. This is bullish.
Ideally, price continues to pullback allowing us to scale into a long position between $0.86 - $0.58. When you scale into positions always begin your scale with a micro-position (1/10th of what your full position will be for the trade).
Place a full-stop below the higher low from August 15, 2024 at $0.4997. As price begins to build a base, move this wide stop to breakeven or below the short-term higher lows. The wide-stop is to account for the aggressive whipsaws we often see in crypto.
Our conservative scale-out targets are $1.3887 and $1.4765.
Sentiment Rating & Signals
LONG Trade Idea #1: SuperFarm (SUPERUSDT)
Entry Zone: $0.86 – $0.58
Average Entry Price: $0.72 (Midpoint of entry range)
Stop Loss Level:
Full Stop: $0.4997
Take-Profit Targets:
Take-Profit Target 1 (TP1): $1.3887
Reward: $0.6687 (TP1 - Average Entry)
R:R: 2.4
Take-Profit Target 2 (TP2): $1.4765
Reward: $0.7565 (TP2 - Average Entry)
R:R: 2.9
Thank you for reading! If you have any questions, comments, or feedback leave a comment below.
This information is for educational purposes only. Nothing written, expressed, or implied here should be looked at as investment advice or an admonition to buy, sell, or trade any security or financial instrument. As always, do your own diligence.