Colony token is my favorite and my investment in this token is going on. I often check the price of this token to see if it pumps so that I can take some profit and rebuy again at a low price. Just like Hive price pumps, other Hive tokens also keep pumping. If you are holding #hive tokens then its better to check on regular basis because there are sometimes when any tokens pumps more then you expect.
An year ago, (Airhawk) token pumped 1000% in just one hour.. Will you believe? No, check the chart. Its my habit that I always check the tokens price which I hold. Unfortunately, my tokens were locked and I cant sell. Its also emphasized to keep liquid tokens as well so that you can sell in the pump.
Many Hive users still do not know that Hive tokens can also grow your wealth. They can even give 10X profit if you invest in the right tokens. Surely there are many tokens that have great potential to increase in price. Some hive tokens have really good fundamentals and projects, those tokens will surely rise in price with the passage of time.
Finding the Next Trending Tokens
Surely many users will have this question in their mind, how to choose such tokens? This is a good question. Remember that buying tokens of hot and trending topics is more suitable. Now guess which topics are trending inside the Hive ecosystem at this time. Which projects discussion is going on? What is the current trend world wide?
In my view, the best topic till now is gaming projects and because of these games new users are continuously onboarding. This is not only good for tokens but also great for the Hive ecosystem. At this time many Hive games are becoming famous not only in Hive but also attracting outside gamers.
#Splinterlands #MoonKarts and #StakeHouseDen. In my view, these three games are going great and users interest is high in them. Because gaming is the hot topic right now, it is better to invest in their related tokens.
Tokens like #Colony #Script #SPS #DEC #LEO #ZING are better for investment. These tokens are being used inside games and their future looks bright. If you take a little risk in them it will not be bad, because even if one of them performs well it can give good profit.
Other than this another important topic is #Inleo which is currently considered the best frontend in the Hive ecosystem. It has its own platform and works just like Hive. Here you can not only do content writing and upvoting but also do all types of crypto trading. (A decentralized exchange which works like #Binance)
Thats why investing in #LEO token is also suitable and investing a small amount in every token related to Leo will be better. In todays post I will talk about #Colony token price analysis and explain how high its price can go and how much gain it can give.
#Colony token is listed on almost all Hive exchanges. My favorite exchange is #Tribaldex that is why I do buying and selling from there. As you can see in the picture the Colony token chart is open and I have marked 2 lines mentioning the resistance and support levels.
First lets look at the volume. The volume of these tokens is still quite low which is a great chance to catch at a low price. Its total volume is 14.4690346, current bid is 0.00075, and ask is 0.00080. There is still a small gap but not as big as in the #Script token.
According to the daily time frame, Colony price is sideways or in accumulation phase. It has built a strong support and if good volume comes its price can move up fast. In this bearish market, Colony token holding its price is a great success.
Support And Resistance Levels
According to the daily time frame, strong support level is $0.0005 and resistance level is $0.00150. If price touches its support, it can crash around 30% and if it pumps 100% it will reach its strong resistance.
From this it is clear that Colony is near its alltime low price and has high potential to move up. #ArcadeColony is getting more popular for two reasons.. first, it has become a great gaming platform supporting top games and second it is getting strong support from Hive users and also they have huge support for users who support these games.
If this continues, a 100% pump is not difficult because such tokens have low liquidity and low market cap so they can be pump or dump easily. As game demand increases I believe the prices of these tokens will also increase.
This analysis is based on my knowledge and is not financial advice. If you want to invest, do your proper research first. Do you think #Colony price will touch its resistance level? Share your opinion in the comment section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
IMAGE TAKEN FROM Canva Tribaldex
Thank You!
Best Wishes.
Posted Using INLEO