Crypto Trading Watchlist #021
In today´s crypto trading watchlist the following tokens & coins are covered: PEPE, RNDR, SUI.
Possible trading opportunities are followed by my own trades, best and worst, this last week. My crypto trading account is staying at around $140 at the time of writing, which is about +$10 from last week.
Hope you had an amazing weekend. Time to start off with cryptos showing opportunities at the moment.
Long
PEPE/USDT
You most likely have heard of $PEPE the most covered memecoin in recent days, at least on Twitter. I think it still has potential, despite the dropdown from its highs on May 6th. It is currently consolidating above $.0027, which I will use as support zone and trade off of that.
Short
PEPE/USDT
Yes, $PEPE is also on the Short list, as I am bearish on all kinds of memecoins in the long term. If this can come close to the 4s again, I might start to take a little Short position. My favorable entry zone is shown in red below.
RNDR/USDT
I am still in a Short position on this one, getting in and out a lot. The last time I got Short was on the recent push to $2.23 where I added to my position. Will do so until it breaks below $2.
Undecided
SUI/USDT
$SUI is a new layer 1 blockchain. The coin started trading just a few days ago and has not made the biggest price swings so far. The longer the consolidation the bigger the breakout/breakdown. If a break below $1.26 happens a new support needs to be found and that could take some cents. Good potential for a slide to the $1.20 level.
My trades this week
As always I will start off with the worst trade this week followed by the best. If there are more bad or good trades I will mention more.
Worst
I don‘t have a specific „worst“ trade. I made losses, but mostly papercuts and nothing out of the ordinary. Losses are part of the game so I would not call these bad. For context I had losses on $PEPE as I tried shorting it on the frontside, but was fast to cut.
The one thing that I missed though is going for a $PEPE breakout in the 10s as it was clearly closing in on a resistance with higher lows. See yourself.
But I am feeling Short trades more lately that is why I am hesitant on Longs.
Best
This was also on $PEPE, where I shorted in the 38s and got out in the 30s. Did not get the full dump into the 20s, but I took a fair bit of it.
Final Words
Thank you for reading my newsletter, I appreciate you all!
If you would like to watch my previous watchlist, you can do that here or visit my blog. I also do TikTok and Youtube shorts of some coins, so take a look at these.
Hope you have a nice rest of your weekend and a nice start to the new week!
Niklas
This is not financial advice, it is for educational purposes only!