Market & Ticker: RAYN – AKTIO/USDT
Date: 04/03/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
AKTIO the native token of Rayn app surged sharply by the end of February ending the bearish cycle engaged in 2022. AKTIO price action sensibility is linked to the trading volume activity of the Rayn app which registered a significant client adoption with recent marketing campaign aligned with recent BTC rapid upside trend which wakin up the appetite into the crypto market by the mass market.
At the current level, a key support is defined at 0,337 with a short-term support set at 0,41 to anticipate a further recovery towards 0,55/0.662 on the short-term before 0.773 and 1.03 on the mid-run.
NB: An active buyback program from Rayn team is in place at 0.269
Technical Key Elements:
- RSI Indicator is positive
- The Moving average are support
- Fibonacci key support is adjusted at 0,337 while the key resistance is adjusted at 0,773 and 1,03
Trade Idea conclusion: Buy
Upside swing trade
- Target 2: 1,03
- Target 1: 0,55/0,662
- Buy swing: add in dip area above 0,41
- Stop: 0,337 (daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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