✴️ Nuls Long-Term (Name Your Altcoin #51)

23 февр. 2023 г.

We continue we our series, Name Your Altcoin, we are already at number 51.

This time we will be looking at Nuls (NULSUSDT) and this chart as well supports a very strong bullish wave next.

We cannot say that a "bull-market" will start for Nuls as it never entered a bear-market, it has been hitting higher lows and higher highs since March 2020, long-term.

We are looking at the weekly timeframe so the signals here are very strong.

Normally, seeing a cryptocurrency pair move above EMA50 daily would active for us its mid-term bullish potential, on the weekly timeframe, this same signal is seven times stronger... Just a reminder.

NULSUSDT has been closing green for the past 7 weeks. While this has lead to some growth, thanks to the bigger picture we know this is only consolidation before the real action shows up.

The RSI is really strong and the MACD is moving above 0 (bullish) to the upside for the first time since January 2021, more than two years ago.

The higher low recently vs March 2020 happened almost 3 years ago... So whatever is being cooked is something we have not experienced in a long while.

Now, to end this analysis... Look back to March 2020.
Many weeks of bullish consolidation, more than two months, and after this phase was over we experienced years of growth.

This is exactly what we see happening this day... We have a long bullish consolidation phase, where prices grow slowly rather than just stay sideways, and years of growth are expected to come next.

Looking back again after March 2020, we have some red candles, yes they show up... But this is only normal because nothing moves straight up.

After the initial peak in June 2020 a long correction took place, 6 long months but only to end in a higher low and be followed by additional growth.

You can expect this same pattern to develop for the major Altcoins, for Bitcoin and Cryptocurrency as a whole.

Let me give you one final bit of information. The reason why there are not many "participants" in this rally is because we are coming off the bottom.

The masses can never join at the bottom or else it wouldn't be the bottom.

As we all know by experience, the masses join at the top.

It is normal to see disbelief when the market starts to recover, this is market psychology 101.

Namaste.