Price action shows buyers are interested.

We are starting to see buyers stepping in slowly but surely over time. I love fundamentals but I don’t use it to trade, I believe the price action has all known and unknown info shown on the chart. Everyone shows their hands when they hit the buy or sell button on a big enough marketplace. OpenSea is as a big as it gets at the moment and is the leading indicator for now with the HK collection.

OpenSea is showing buyers showing up below the 0.05 ETH average price level. That large move up that started after Nov 21 of 2022 and peaked in the beginning of 2023 retraced to support at around 0.05. We have been not been going down but not exactly making progress to the upside. As far as I can tell buyers are waiting to snap up bargains under 0.05 ETH. I wouldn’t be surprised if buyers move up their buy zone to just above 0.05 and snap up everything above 0.05 if they are aggressive in their believe of where this project is going.

Now I do have to clarify this chart shows everything in the collection as an average sold so stamps and Kitty’s are included in this which makes it difficult to assess individual prices. Nevertheless you can use this as an index and if you can ready charts you’ll know where overbought or over sold areas are. In this case I believe anything approaching or hitting or approaching 0.05 is a good time to buy anything floor.

If we can break above .2165 I can see price going to 0.4079 ETH. This is called a doubling of the range. The range being the most recent major low of 0.251 to the last major high o .2165, the difference between them, then that difference added to .2165 and that comes to 0.4079. You don’t have to know the technical details and you don’t have to believe them, they just work for me.

TLDR, Target of 0.4079. I don’t when but I am confident that area will be reached for this average price index. Once that is hit we can re-evaluate where go next. See you then.