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Pepe: A High-Risk, High-Reward Gamble
Ran noticed that Pepe, a relatively young cryptocurrency, has been pumping significantly. He emphasized that trading such coins involves a high level of risk, but their upward trends could continue, especially if Bitcoin reverses its course. To minimize risks, Ran suggested dollar-cost averaging into the position and setting a stop-loss below the previous day’s open.
Stacks, Solana, and AVAX: Watching the Ranges and Trends
Ran analyzed Stacks (STX) and identified an ongoing head-and-shoulders pattern, with a target price of $57 and then $32. Solana (SOL), on the other hand, has experienced a strong downtrend but is currently at a level where traders could go long, with a stop-loss below a specific wick. Avalanche (AVAX) is range-bound, and Ran warned that it might struggle to break through resistance levels.
Chainlink, THORChain, and Dogecoin: Monitoring Range Lows
Chainlink (LINK) is targeting the bottom of its range at $5.45, while RUNE is at an interesting level with a strong downtrend. Losing its current level could be catastrophic for THORChain (RUNE), leading to full-on capitulation. Dogecoin (DOGE) is also selling off, possibly heading down to around $0.067, says Ran.
Cosmos, Vulcan Forged, and Near: Potential Accumulation Opportunities
Cosmos (ATOM) has been holding up relatively well, but Ran expects it to follow the rest of the market if it declines. Vulcan Forged (PYR) is approaching a diagonal trend line at the bottom of its range, potentially dropping to $2.90. Near Protocol (NEAR) is back at its range lows, but these lows could hold for an extended period, making them suitable for long-term accumulation.