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Honeyusd trading ideaHoneyUSD has broken below a key local support, now acting as resistance. This breakout signals a potential continuation to the downside, completing the impulsive wave sequence as shown on the chart. However, there is also a possibility that the move terminates at wave 3 without reaching wave 5. Regardless of the outcome, both ranges present strong accumulation zones. Targets for the mid-term and final setup are outlined on the chart. What are your thoughts on this setup? Drop your insights below!
COINBASE:HONEYUSD
by weslad
5
120%-282% on some sweet $HONEYI just bought Hivemapper CRYPTO:HONEYUSD at $0.068 and holding for between $0.15-$0.26, and hopefully take profits by the first or second week of February. January is also a possibility - we know how fast these things can move once they attract some attention. I believe I have found the last bottom before we continue into old highs and then new territory🤞🏻 I have little doubt this will far surpass $0.26, but .15 and .26 will be key areas of resistance, and I will make interim evaluations at those points whether to play any major price swings which may occur. Mostly, I will consider this a near term investment, because it's the only crypto I have heard of (I think) which is producing an actual physical product, and use of this product - which is actually really cool - is incentivized with this token. Worldwide adoption is coming, and this is going to give Google Maps a real run for their money, if not destroy them. Pretty sure I'm going to buy one. COINBASE:HONEYUSD
COINBASE:HONEYUSDLong
by Hollywood260AB
6
HONEYUSD 12/3/2024HONEYUSD Daily Chart Analysis HONEYUSD has presented a strong bullish setup, aligning with the broader momentum seen in alt-coins as BTC trends higher. Key Observations 1. Downtrend and Accumulation: - From March to June 2024, HONEYUSD experienced a sharp downtrend, with significant price depreciation. - From July to November 2024, price moved sideways in an accumulation phase, suggesting buyers were stepping in at these levels. 2. Breakout Confirmation: - At the start of December, price broke out of the accumulation range. - This breakout was accompanied by: - A spike in volume, confirming strong participation. - The MACD crossing its signal line, indicating a shift in momentum to the upside. -Price has now closed 3 consecutive days above the breakout level, further validating the move and signaling the start of a potential uptrend. Trade Details - Position: Long - Entry: 0.0924 - Stop Loss: 0.0814 (11.90% risk) - Initial Target: 0.1801 (94.91% potential return) - Risk-to-Reward Ratio: 7.97 Summary HONEYUSD shows a compelling bullish breakout backed by strong technical indicators and volume confirmation. The setup offers a highly favorable risk-to-reward ratio, making it an attractive long trade opportunity. Monitoring BTC's momentum remains essential, as it could influence the broader market sentiment.
COINBASE:HONEYUSDLong
by rudcharts
Unlocking Long-Term Growth: Real-Time Data InnovationWith the current downturn and price stability, this could present an opportunity for a breakout. If the price reaches a reversal point, it might signal the onset of a breakout with long-term growth potential, provided the timing is right. Assuming adoption is nearing, a collaborative effort to collect and analyze data—such as photographic evidence and footage from vehicles participating in the pilot program—has the potential to reduce data acquisition costs while providing real-time updates on street conditions. Regarding Honeycoin, the platform offers a seamless way for individuals to earn, save, and spend cryptocurrency. It facilitates micropayments, peer-to-peer transactions, and financial inclusion for unbanked populations. Integrating Honeycoin into a pilot program like this could further enhance real-time data collection by rewarding participants with cryptocurrency for contributing valuable data. This incentivized model could drive adoption while simultaneously improving the efficiency of data gathering and street monitoring. If these efforts are coordinated effectively, the combination of blockchain technology and real-time data collection could create significant growth opportunities in the long term.
COINBASE:HONEYUSDLong
by wulrahmah
HONEY +35%What is Hivemapper (HONEY)? Launched in November 2022, Hivemapper (HONEY) is a decentralized global mapping network that rewards its contributors for collecting high-volume 4K street-level imagery with dashcams through a Drive-to-Earn model. Imagery acquisition devices come in the form of 4k Dashcams, which are a combination of a camera that records street-level imagery and a blockchain mining device. Users who operate dashcams thus mine and earn rewards in Hivemapper's native cryptocurrency token, HONEY. .................................................................................................................... We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature. and are therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing.
COINBASE:HONEYUSD
by CryptoTrend-Alerts
3