INS Potential Medium Term

Note: Amateur/rookie opinion.

A new token, difficult to analyse with currently limited data. A strong project using a utility token in the grocery industry

Fundamentals:

-A unique project with no competitors in the current space headed by Peter Fedchenkov
-Meant to disrupt manufacture-to-retailer/wholesaler supply chain space with the aim of lowering everyday consumer grocery item prices
(replacement of legacy wholesalers with online directory, I guess kind of similar to Alibaba grouping manufacturers together, just more for grocery industry)
-One of the strongest and professional teams I've seen for a project in the crypto space
-Potential partnerships with existing grocery manufacturers
-INS token will have a use case to allow purchases, rewards distributing and marketing on INS platform
-INS token supply is limted to 50 million, ATH dolllar price was 11.96 USD/INS, therefore x6-x7 potential return for long-term

Technicals:

-Stochastic RSI on 4h: shows that the price will continue to fall in the short-term before bullish sentiment pours in, daily is turning bullish
-DMI: ADX signal line shows weak current bearish trend continuation when +DI crosses above -DI and ADX is strong, possible start of bullish upturn
-Relatively high trading volume (buys and sells) despite fall from previous highs, confirmation of reversal to come, volume to decline before price rise
-Short-term bearish to wave E before trend change (assuming count is correct), will form a bullish descending wedge
-Buy zone 0.0001300-1800 BTC/INS

Opinion:

Good long-term project with strong fundamentals. Medium-term bullish, short-term bearish continuation before price reversal

Original TradingView chart can be viewed https://www.tradingview.com/chart/INSBTC/svhB5SAF-INS-Potential-Medium-Term/

BitMex Affiliate link for 10% off trading fees if interested:
https://www.bitmex.com/register/Fdx46u

Sign up for a Binance account if interested:
https://www.binance.com/?ref=10878271

Continually learning TA everyday, if you like what I'm doing, I love hearing feedback to improve or consider a small coffee :)

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