Hi guys, Nice having me again as I join the Crypto Trading competition in the SCA community. My second participation
would be with the ARGEO token. This week's team still remains TEAM-FRONTLINE with prof @abdu.navi03 as the anchor.
An Overview of the AERGO Token
This is a decentralized open-source and hybrid system developed to help ameliorate concerns bothering existing blockchain networks. We already know the issues of the Trilemma relative to the completeness of blockchain services where there are majors in the security and decentralization features and hence with a minor concentration on the scalability. The AERGO blockchain is observed to provide a smart contract platform that helps strengthen distributed versions and concurrency controls with support from SQL and Lua protocols.
The AERGO system developers have the sole aim of providing infrastructural components for public systems as well as giving a secured platform for external developers to host their smart contracts on. Being a hybrid blockchain, it provides cloud computing capabilities that help in deploying its system applications. Some of these applications are scheduling, orchestration, management, and deployment. Most importantly, the AERGO blockchain is built by Blocko which happens to be an affiliation between Samsung and South Korean blockchain Tech company.
Just s earlier mentioned, it is a solution to blockchain systems that include Private and as well Public Blockchain networks. Hence when the AERGO platform is integrated with a Private Blockchain, it runs on the PoA (Proof of Authority) consensus mechanism but integrated with the Public Blockchain it runs a different consensus mechanism known as Byzantine Fault-Tolerant Delegated Proof-of-Stake.
Trade Analysis of AERGO Asset
The price value of the Aergo token is observed at $0.2123 as at the time of this report after making a 7.06% increment that represent $0.01399 price change and with a Market Cap of $76,962,440. A Circulating supply of 362,462,198.59 AERGO is observed for this token with a Max Supply of 500,000,000 AERGO tokens.
For a 24hr period, the AERGO token has a price peak of $0.2198 and a low price of $0.1977. Also, is the volume traded observed as $29,868,272.13 is 20.59% lower than what was achieved in the previous 24hrs. It currently stands as #431 in the coinmarketcap site based on the volume traded.
Looking at the trend analysis, the AERGO token in its all-time period has peaked to $0.5121 value with Volume traded under the same period as $122.20M (Date of Occurrence: 02nd April 2021). while a Low value of $0.01841 and Volume traded as $1.77M (Date of Occurrence: 13th March 2020).
Technical Analysis for AERGO Token
The trading strategy used is the Double Exponential Moving Average where one was set as short period EMA-25 and the other as Long-period EMA-55. This directly tells us the signals anticipated from this combination where a crossover could give us a short buy or sell trade position and profit taken immediately.
From the chart analysis, we observed that there was a crossover where the Short period EMA-25 crossed above the Long-period EMA-55. This shows that the price trend is expected to be bullish just as observed from chart analysis. So far, the price has continued. The bullish path and as well acting as dynamic support to the price trend.
Buy Set up Scenario
I will be making my buy entry order given to the signals given in chart analysis.
Market Price - $0.2123
Stoploss - $0.1943
Take profit - $0.2413
Filled Amount - 94 AERGO
Fee - 0.00003647 BNB
Total Asset used - 19.95260000 BUSD
SELL Set up Scenario
I will be making my SELL entry order given to the signals observed above the buy market price to make a profit.
Market Price - 0.2066
Filled Amount - 94 AERGO
Fee - 0.00003528 BNB
Total Asset used - 19.42040000 BUSD
Profit/Loss: -0.5322 BUSD
Losses incurred due to the volatility of the trade for the period used.
Recommendation
The AERGO Network is also another good project with emphasis done on the development of some significant limitations observed in the Blockchain space where both the private and public Blockchain systems are powered by different consensus mechanisms. The token which is the AERGO token has shown some strength of trend despite being categorized as a penny cryptocurrency. Holding tokens for long-term use may be profitable given its all-time high also shown from the asset analysis. Hence buying a larger chunk of this token is advisable.
Thank you professor @abdu.navi03. this is my second trading entry.
cc: @abdu.navi03
@steemcurator02
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Hello Prof @abdu.navi03, this post was skipped been curation and was reposted but yet to be curated again before expiration.
Cc: @steemcurator02
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