This week debut’s issue #1 of the Crypto Brief on Oddmanout.ninja. In this weekly briefing I will provide you with a look into a token on my radar.
Becoming increasingly evident is the shear mass amount of cryptocurrencies available to man. One indicator of a good token is a solid protocol. In this case having a real use outside of the catchy ticker symbol/name.
Hypersign Identitiy Token better known as ticker symbol (HID) is a decentralized Identity & Access Management Security solution in short. Protecting our identity has become increasingly important with our technology. (HID) has a future outside of being a number in a trading window. That is what separates a real coin from a shit coin; the ability to function in working spaces.
An indicator of a great swing trade is a stock/crypto that dips into oversold territory with an Relative Strength Index (RSI) below 30. Then rises into overbought territory past an (RSI) of 70. Then does it again. That is your simple buy low and sell high opportunity. Once you have a solid pattern of the (RSI) doing this you can find your entry point.
(HID) token has only been around since June 8th, 2021. Not having enough time to establish an RSI reversal trend enough times; (HID) remains a token to look at in a different light. Better to keep it on your radar and wait for the right opportunity. We should still see a better entry price in the coming days.
On November 11th, 2021 (HID) lifted up to an RSI of 67. Today the RSI sits at 45. Showing us (HID) has room to drop off or wade the waters. Based on the current trend (HID) has stayed flat around here.
RECAP: Today we have covered a few indicators I like to use when trading stocks/crypto. From the token’s protocol—to the technical analysis of using the Relative Strength Index. We covered Hypersign Identity Token (HID) and in short what it’s function on the Polygon Ecosystem relates to.
PICTURE CREDIT/COURTESY: Photo by Tima Miroshnichenko from Pexels
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