I #meme I will play with it but I will not be married to it. #lol
It's not an unconditional #Luv thingy.
This layer 2 token is easy and #fun to play with. If you buy and hold you are not playing. Everyone is unique so obviously there are many reasons to hold or trade a particular token.
When I got here in March 2023, this was the second token, after #ctp that caught my attention. I learned from @jongolson that CTP token creation was inspired by LEO token founder.
My first observation was that LEO to CTP ratio was approximately 10:1 and both were in a declining trendline. I don't play to make money without some understanding of the Fundamental Value and Technical Analysis supporting an investment, stock, token, whatever.
There was and continues to be a lot more hype about LEO than say, CTP or many other layer 2 tokens. Hype is a powerful leveraging force so one needs to make sure they are on the better side of the fulcrum point.
I enjoyed the ride up and I accumulated to I believe 1,000 staked LEO and by July 1st I unstaked and sold. Now I am back in but not as heavily, not yet. Those married to the token are putting pressure on the buy side. Those that missed the profit taking opportunity have already placed their sell orders for the next cycle.
Interestingly, the liquidity of this token is not high. That means if you look at the trading details you can pick up some valuable tipping points based on bot and influencer trading patterns.
In the last few weeks I have been monitoring a few different factors that can make or break a trendline. Today, I am not convinced that we are at a support level so that has caused me to re-evaluate trading strategies. My gut says there will be plenty of time to pickup some tokens at a low price and there is no need for some FOMO reaction.
Current strategy is to pick away at the low hanging fruits and wait for a more definitive trendline to form. A trend that reflects the fundamental growth expected from the project deliverables. Hope and hype is never enough so let's see some more market analysis. Anyone?
BTW, I have allocated 20% of earnings from this blog to PEPT to support our traffic exchanging community on Hive. Do consider subscribing to our PEPT traffic exchanging community.
#Luv and positive energy to all.
Posted Using InLeo Alpha
