In a recent video, popular cryptocurrency analyst JB from Cheeky Crypto delved into the recent price action and potential future developments of Findora (FRA), a promising blockchain project with a vision for private, scalable, and interoperable decentralized applications.
Early Identification and 100x Potential
JB highlighted their early identification of Findora as a project with immense potential, suggesting that it could deliver a 100x return on investment. This optimistic outlook is based on the project’s innovative technology and strong fundamentals.
Technical Analysis and Bearish Signs
Analyzing the 1-hour chart, JB noted the volatility in Findora’s price action and identified potential support levels. However, JB also pointed out bearish signs, including the recent crossing of the 50 SMA below the 200 EMA on the daily chart.
ABC Structure and Trendline Break
Referring to a previous Technical Analysis (TA) session, JB tracked the ABC structure and observed the price’s struggle to break above the 50 EMA on the daily chart. Additionally, JB highlighted a potential bearish sign with a close below a crucial trendline.
Possibilities and Cautious Optimism
JB discussed various possibilities for Findora’s price movement, including the potential for an ABC structure completion followed by a bounce. While acknowledging the current bearish sentiment, the analyst emphasized that Findora is still 99% down from its all-time high, leaving significant room for growth in the next bull market.
Stake Pool and Long-Term Potential
Promoting Findora’s stake pool as a way to earn passive income, JB mentioned the project’s current ranking and its potential for significant growth in the future. Despite the short-term bearish outlook, JB expressed optimism about Findora’s long-term potential.
100x Project and Conservative Trading
Speculating on potential price levels during the next bull market, JB reaffirmed their belief in Findora’s ability to deliver a 100x return. However, JB also advised viewers to exercise caution in the current bear market and trade with a tight stop loss to minimize potential losses.
Gratitude and Wishes
Thanking viewers for watching, liking, commenting, and subscribing, JB encouraged viewers to stay safe in the crypto space and wished everyone a fantastic weekend. The video concluded with a promise to catch up with viewers in the next one.
