Soon, the crypto market will enter a period when altcoins will start shooting up so much that it will be very difficult to keep up with buying them all.
Consolidation is a long position (either short or long). Given the fact that the downward trend in the crypto market has been going on for almost 2 years, the assumption that a global trend reversal is now taking place is more than realistic.
In our opinion, it is worth paying attention to altcoins whose price charts are undergoing prolonged consolidation and are nearing their logical conclusion.
For example, a quick analysis of the BANDUSDT chart:
1. The first powerful upward shot of the price was back in November 2022, a month before the entire crypto market started to grow. So there are buyers, they are strong and aggressive.
2. The protracted consolidation has been going on for almost 5 months, at the theoretical bottom of the trend. This means that the realization of such a long accumulation will be upward.
3. The ideal level for buying BAND is $1.50. The safe level for buying BAND is $1.70 (after the consolidation is over)
4. The medium-term resistance level is $3.30, the long-term target, where it would be cool to sell BAND at $7-8.50
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