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Short Moves on OMG & Others

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P. H. Madore

P. H. Madore

P. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link


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Short Moves on OMG & Others

Posted on .
This article was posted on Saturday, 21:28, UTC.

As a note of disclosure, the author holds some OMG long term.

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It may time to take profit on OMG if you bought in beneath the $10 level, in order to lock in profits. Judging by its short history on the market, a swing back to the $9 range would not be unexpected. On the long scale, though, OMG is still a winner, so a buyback at a lower price is in order when available.

The high price is also in relation to the high price of Ether. This problematic in the valuation of all tokens, but what we’re getting at here is that we’ve seen enough with OMG to know that if you want to lock in some profits, a high like this is probably the time to do it. In the inevitable shakedown, you’ll be able to buy back in, or you can just sell a part of your stack.

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In either case, unless you’re long and understand the ceiling is much higher than it looks from here, and are willing to hold for that time, now is the time to take at least one profit round – more will likely follow with OMG.

TenX (PAY)

The author is not currently holding PAY.

We see it as probably a good time to buy TenX, for later sales when the price inevitably recovers.

On the long scale, this is definitely undervalued. It and OMG will serve vital interests within the Ethereum community and the importance of that won’t go ignored by the market. The author can’t see the future, but judging by the chart above, and the one below, it would seem that that opportunities to buy PAY tokens at this price won’t be this low forever.

At present time we see no reason that TenX, along with its competitors, will not thrive.

STX Dying or Selling Cheap?

We look at the following chart and the above question becomes reasonable to ask.

What is going on here? Are people over it already, or is this a great time to buy?

We initially came to a 6.5 on it, but it might be time to get away from it once the opportunity presents itself, if you haven’t already. Obviously we can’t keep track of everything. Presumably in the long-term, the token’s value will recover as the company delivers on its roadmap. We assume that short-term traders made their profits during the earlier highs of this token, and that long-term holders are consolidating their position. As it stands the token enjoyed a recent high of .008 Ether per token, and now varying between .004 and .005, it can probably see that again in the coming weeks.

Nevertheless, short term traders may want to be aware that momentum is moving elsewhere in the market, although it would seem that profit opportunities of much greater potential lay down the road, since .005 is the ICO price. As mentioned in the first review, this would be an opportunity to get discount coins – anything beneath .005 Ether. In the meantime, as well, the value of the Bancor network has risen, which can be expected as more tokens are issued on the Bancor protocol.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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P. H. Madore

P. H. Madore

http://phm.link

P. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link

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