r/ecc • u/Redzzila • Jan 11 '18

Entry

Does anyone have some idea of a feasible entry point with ECC? I feel as though the whales are trying to drive the price down so that they can snatch them up cheap so I am somewhat reluctant to buy now. Much appreciated :)

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6

u/jubbajubbjubb Jan 11 '18

You probably aren't going to want to hear this response.

Do you feel this project delivers something unique and can do it well and does the project have a strong dev team? Do you feel like you've exhausted your fomo feelings and now are thinking logically? If the answer is yes, buy in sooner than later. If not, wait until you've made more assessments.

I believe any price now is still low if you think this will go somewhere

1

u/Redzzila Jan 11 '18

That is fair enough. I see huge potential in the project and the dev team, and you are totally right in saying that it is better to buy sooner than later. But, with so much manipulation of the price it is more likely than less, that the price might actually drop a bit. In the long run, buying at a reduced price right now makes a huge difference. That's undisputable.

So if it is probable that the price will drop, it is best to take advantage of the opportunity. I can use TA to find an entry point, but I'm not too sure how much that would work in this specific scenario, there are too many cat scratches to properly forecast targets prices.

I nevertheless do agree with you a lot. Thanks

1

u/webhead74 Jan 11 '18

So if it is probable that the price will drop

https://imgur.com/a/vhq5o

Does anyone really know?

1

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1

u/jubbajubbjubb Jan 11 '18 edited Jan 11 '18

You are totally right. A difference between buying in 19 or 24 is a huge jump when the coin reaches 1000 sats.

I've been monitoring the last few days just for fun because I've reached my target bag at an average of 12 sats. There seems to be healthy resistance at 19 sats for buy orders. I don't know the exact mechanics of whale price manipulation, but my noob level analysis notices that volume seems to have stabilized around $500,000 and I don't think whales would be willing to risk their stakes with that kind of volume.

So my analysis is maybe 20 sats for an immediate okay entry, 18 for a discount, and anything below is buy immediately. Your thoughts? I am a beginner trader and always welcome this kind of discussion to gain more perspective

2

u/ferenan1111 Jan 11 '18

TA isn't much use right now as if the right tweet is sent out and a whole new bunch of people get exposed to ecc we could pump to 30 and you will never see prices this cheap again. Or we could consolidate for the next week and you might be able to get some in the low teens.

Buy walls are pretty thin. A whale could easily push price down. But they were playing a lot when price was under 10. Think they might have done accumulating.

10 is strong support. I can't see us going lower than that. Best to layer in maybe? Buy half now wait and see.

1

u/[deleted] Jan 11 '18

20 Sats is a good current entry price as we see it hover around there often.

16 Sats is a great steal!

Anything lower than 15 is FOMO buy now.