AGLD presents a buying opportunity, as the market continues to decline, it rises against the trend.
You can go long on AGLD at the current price as a short-term trade; if all goes well, profits could be realized next week. Let me share the buying logic.
If the price movement of a coin can outperform the market, it is either due to the project's immense potential or the strong backing of savvy investors. In recent days, the entire market has been declining, and AGLD's ability to rise against the trend makes it worth buying, regardless of the reason.
From the daily chart of AGLD, the price has surged at the bottom of the Bollinger Bands and typically can rise to near the upper Bollinger Band, indicating substantial upward potential.
Moreover, AGLD's trading volume today is lower than yesterday, yet the price has increased. This contraction in volume while the price rises reflects strong momentum.
Therefore, now is a buying opportunity. Furthermore, mainstream coins have been declining for several days, and if the market rebounds, it is believed that AGLD's price will also be further boosted.
However, the cost-effectiveness of buying at current high levels is relatively low. You could enter a position at the current price and wait for the price to pull back to a key support level before adding more, referencing around $1.09.