Hello friends you are welcome to my Day 2 Trading Competition for this week. First and foremost before I begin to discuss about my trading on RAD/USDT I will like to thank professor @pelon53 work his wounderful leadership skills in Investors-Team. Thank you so much sir.
1.- The name of the token and introduction of the project. Technical background of the project, team in charge of the project and important data of the project. In which Exchange or exchange can be negotiated.
Radicle is blockchain network that enable the collaboration of software. It is an open source peer to peer (P2P) network that enable collaboration of others software that is similar to a centralized network. Radicle link is where Radicle network is based on. The Radicle link is known as a gossip application protocol that is built on Git, which has what is known as opt-in integration that is bind with Ethereum to secure Radicle project.
Radicle network was founded by **Alexis Sellier ** and Eleftherios Diakomichalis In 2018.They goal was to develop and equitable way and sustainability to finance and the solve the issue of how public software projects can be maintain.
RAD is the native token of Radicle, and its serves as a governance token, that allow users to vote and makes decisions. In the Radicle network developers that has RAD token can also vote for governance in the ecosystem. The RAD token is makes the ecosystem to be decentralized that makes the Radicle network to be different from a centralized networks.
RAD token can be traded on few cryptocurrency exchange such as Binance, Gate.io, Mandala Exchange, Crypto.com, Houbi Global etc which are all shown on the screenshot below.
screenshot gotten from Coinmarketcap
2.- Why are you bullish on this token today?
As at the time of writing this post Radicle's (RAD) token was trading at over $5.22 USD according to the information on Coinmarketcap. Now the reasons why am blush on this RAD token today is that RAD token has soared within the past few days of me studying the token on Binance exchange I noticed that the token within 24hours rise up to 31% before dropping down to 0.65%.
screenshot gotten from Coinmarketcap
However, in early April 2021 the price of RAD token went as high as $13.82 USD experiencing a all time high as of April before the token drop down to $4.89 USD in June 2021 and still rise up to about $11 USD November. We can see that the token has previously experience its all time high before falling down to $5.22 which is the current price as at when making this post. Well I will say that the reason why I am so bullish today about this token is that I am strongly convinced that the token might experience another all time high that is even more than that of 2021.
screenshot gotten from Coinmarketcap
3.- What is your plan? Do you want to keep it for a long time? Or when to sell it?
My plan is to keep the token for a long time before selling it after because I believe that the token will rise again just as it rise in mid April 2021. However the potential of this token it depends on how Investors invest in Radicle network that will make the token to rise.
4.- Do you recommend that everyone buy it? The reasons for recommending or not recommending it.
RAD token is a good cryptocurrency that everyone should buy an hold since it's that all that high. The potential of Investors coming into Radicle network is very high and this can make the price to increase from $5.22 to $10 an above. So the reasons why I am recommending that everyone should buy this token is that RAD token has reach it all time high of $13.82 in mid April 2021 and its can still do better than that this year. Meaning that anyone who buy this token and hodl it today will definitely make profit from it when it rise.
5.- Any other important information of the token/project.
Radicle network as I said earlier, is an open-source protocol that allows developers to collaborate in a p2p and a decentralized form. I also said that Radicle network is similar to that of a centralized network like GitLab and GitHub, that enables developers to build their on (DApps) Decentralized Application on it. This can only take place on its peer to peer (P2P) protocol known as Radicle Link. For more information about Radicle network and its native token RAD you can visit Radicle Community, It development with GitHub and it Twitter page
6.- Make an analysis of the token or cryptocurrency that you are going to operate. You must obligatorily use methods and analysis learned in the Crypto Academy.
Here my analysis was carried out on TradingView platform before, I then went to my Binance exchange and executed the trade.
RAD/USDT Trade Buy
screenshot gotten from TradingView
From the chart above, I noticed and uptrend movement an the price was at a key support level of $5.3034, before it then began to move in an uptrend. Looking at the volume Indicator, I also noticed that is moving in the direction of price. But at this point, I didn't opened my other instead I applied Moving Average Indicator where I make used of the crossover strategy as shown below.
screenshot gotten from TradingView
Looking at the chart above, I noticed that the 10day MA and 20day MA line is below the price, with the price moving in a higher highs an a higher low. At this point what I did was to first confirm the market by looking at the two MA. And from the above chart I then applied the strategy of golden cross, which moving average crosses above. And from the chart i noticed that the 10 day MA has crosses above the 20 day MA which is a sign of an uptrend (i.e buyers are in control). At this point I then opened a buy order trade and went to my Binance exchange and executed the trade.
Below is the trade history.
screenshot gotten from Binance exchange
Thank you for reading....
Best Regards;
Cc:-
@pelon53