While there are over 1300 cryptocurrencies you can trader from - there are some which are virtually unknown. While many cryptocurrencies are shady and dangerous to invest in, there are some which have demonstrated a pattern time and again. One of these cryptocurrencies which have maintained a low profile but is a safe bet for investments is HShare (HSR).
HShare has been a relatively unknown cryptocurrency in the markets. It has been around since mid-August of last year. The cryptocurrency started off trading at a price of $20 when it came out. Over the next few weeks the currency had hit the $42 mark and was poised for rising even more. However, market corrections brought its level down to as low as $4.
Over the months HSR has been showing patterns of growth. While it hit the all-time low mark at $4, the currency soon bounced back to the $25 mark, following which it rose back to $41. However, another correction came along and HSR began to slide. The currency is currently at the $10 mark where it is getting some support. This pattern can be seen on Kucoin exchange.
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HShares (HSR) is likely to show a strong growth.[/caption]
As of this writing it appears that the $10 mark is the line of support and the $41-$42 marks are the line of resistance. Considering that the support has risen by $5, it is likely that the resistance will be broken once the currency surges. As seen in the graph above, the HSR cryptocurrency has seen a promising sign of growth every time such a dip comes.
Based on this analysis, it is likely that HSR is all set to boom once again. It would be advisable to buy HSR at a price of around $10 and hold (or HODL, if you prefer it that way) till the currency starts to boom. It is likely to cross the $50 mark this time. We would advise setting up of a stop-loss of around $7.8. The scope of loss is a little over $2 while the scope of profits here is a little over $40.
: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions - which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.