Crypto Academy Week 14 - Homework Post for |@stream4u| ---Reverse Strategy | Crypto Prices & Market Source

What is CoinGecko

CoinGecko is the world’s largest independent cryptocurrency data aggregator which provides a fundamental analysis of the crypto market. In addition to tracking price, volume, and market capitalization, CoinGecko tracks community growth, open-source code development, major events, and on-chain metrics.
CoinGecko was founded in 2014 by TM Lee (CEO) and Bobby Ong (COO) with the mission to democratize the access of crypto data and empower users with actionable insights. We also deep dive into the crypto space to deliver valuable insights to our users through our cryptocurrency reports, as well as our publications, newsletter, and more.
CoinGecko

How CoinGecko Can Be Helpful for you in a Crypto Market?

• I love the option to create a watchlist where you can keep a live feed track of your preferred assets and create your own portfolio that would estimate the current value of your portfolio according to the current market prices.

• Every available information on a particular coin is provided which allows users to thoroughly review a particular coin and confirm its authenticity before investing. Thus, it helps in investing in genuine coins with real support and development. Examples of such information are the Market Cap, Website, Explorers, Wallets, Community, and SoUrce Code of every coin listed

• CoinGecko has a news feed feature where all trending news, buzz, blogs, podcasts, and newsletters with relation to cryptocurrencies are displayed to keep users on track with current information in the crypto market.

• Information of exchange platforms with their corresponding trust scores and trading volumes are provided to help users choose the right platform to trade their assets with the assurance that their assets are safe.

• Overall, it has a simple and easy to understand the layout and a friendly GUI which helps users to interact without any difficulty

Explore CoinGecko features with information

Menu Options

The various menu tools available on the homepage are Home, Coin, Exchanges, Defi, NFT, Portfolio, Publications, Resources, Products, and Community.

• Home menu
  This will always bring you back to the homepage of CoinGecko. It is an easier way to start afresh once you are looking to retrace your steps.

• Exchanges menu
  This option provides users with a list of exchange platforms with their trust score evaluation and trading volume. The exchange platforms are categorized into Spot(centralized), Dex(decentralized), and Derivatives

• DeFi menu
  This option provides a list of top DeFi coins by Market Capitalization and other valuable information regarding DeFi coins and DEX such as total market cap, trading volume, and DeFi dominance

• NFT menu
  Gives a list of top NFT Coins by ranked based on their Market Capitalization. It also provides an option to view the NFT in the spotlight recently.

• Portfolio
  This option avails users to sign in/up and create a watchlist of their preferred tokens all in one place. Users can input the quantity of each asset currently in their possession and CoinGecko will, in turn, provide an estimation of the total worth of one's assets

• Products
  This menu assembles the various product details of CoinGecko for users. Users can assess Premium Subscription, Mobile App, and Store at certain prizes.
  Developer options such as Crypto API, Widgets, Request Forms, and Methodologies are also displayed under this menu.

• Community
  All the various social media handles of CoinGecko can be directly assessed under this menu.

Data Menu

The various statistics of CoinGecko are generalized in this menu.
Current data on CoinGecko is as follows:

• Coins: 7439 Exchanges: 474
• Market Cap: $1,616,774,268,165 -11.6%
• 24h Vol: $340,555,584,572
• Dominance: BTC 42.3% ETH 16.9%
• ETH Gas : 226 gwei

Coin List Menu

Coins are ranked automatically according to their respective market cap. The ranking can be alerted by the user to suit preference based on the price, 1H, 2H, and 7days price % change and also the 24H trading volume

The various tools of the coin list menu enable users to manage to manipulate assets to be displayed according to their preference.

The USD tab allows users to choose a fiat currency or commodity in which the prices of coins will be displayed. Users can switch to currencies they are familiar with for better price analysis.

Filter tab enables users to target specific coins based on their Hash Algorithm, Blockchains they run on, and coin Category they fall under.

The Portfolio tab takes you straight to the portfolio where all the assets you marked as favorites are listed once you sign in. You can simply add a coin to your portfolio by checking the 'star' button before the coin.

Explore All Coins tab allows users to make more advanced searches for assets by applying more parameters which helps to narrow the search as much as possible.

Recently Added Coins tab complies with its name by displaying a list of newly added coins in the crypto market. This is a good opportunity to spot new coins to invest in, though some of these coins may happen to be shitcoins.

Category tab ranks cryptocurrency categories based on market capitalization. Some cryptocurrencies may overlap across several categories because of the shared similarities

My thoughts
ETH started an impression bull run on April 25, 2021, with a market price and capitalization of $2,212.84 and $258,340,689,900 respectively which lasted until May 11, 2021, with a market price and capitalization of $4,182.79 and $461,040,789,541 respectively. This saw the asset achieve an almost 80% increase in Market Cap.

The recent bear run in the crypto market has seen Bitcoin along with all the major altcoins decrease in Market Cap along with a decrease in prices and ETH is no different.
The current price of ETH as of the time of this post is $2,397.03 with a 24-hour trading volume of $101,545,342,844. ETH price is down -12.9% in the last 24 hours. Current Market Cap is $279,135,883,581

Why I chose ETH?

ETH has really established itself as the sovereign of altcoins with a 17.01% Market Cap Dominance, second to Bitcoin. Its runs on its own blockchain and has massive support and patronage which is rightly desreved for a coin ranked 2nd based on Market Cap.

Justin Sun announced 3 days ago about his purchase of 54,153 ETH worth $135,891,796 at price of $2509

^source

Based and the recent success of ETH, it is inevitibly that there will be a massive increase in price once again as the crypto market recoveries from the bear run. Eth is definetly a coin to look out for.

Technical Analysis of ETH/USDT Pair

Taking a look at the 1Day chart of show indication of a bear market which is a reflection of the curennt bear run in the crypto world.
Crypto prices are difficult to predict in such instances but i believe the Reverse Strategy is the best technique to deploy as you can notice a series of Bullish and bearish market reversal in the chart below.

^{ETH/USDT chart on tradingview}

From the 1d chart analysis, the support and resistance seems to have decreased for the past 7days until the last 3 days where the support seems to be strong and would be difficult to break.

Though, interception of the Moving average indicates a downward spiral but the 14-period RSI, though not in the oversold zone looks promising with a steady rise over the past 3 days.

This indicate a good time to buy in my opinion

Based on which Technical study the possible low level and the high level for the next 1 week?

My possible high level for the next 1 week based on my technical analysis would be $3412.
If ETH can break its resistance, the possible high can move as far as $3581

Because of the current strong support, my possible low level would be $2146 just incase the support is broken.

This week's lecture has thrown more light on my experience with Reverse Strategy and ushered me to explore the depths of CoinGecko. Reserve strategy technique can help user take profits on trade and also set right stop-loss to avoid huge loss on trades.
CoinGecko has proven to be a rather effective tool in crypto market trading as it provides users with a whole lot of exciting and relevant feature which aid in spoting the right assets and also making right decisions in trading.
It is always important to make a comprehension check on a particular coin you wish to trade in to make sure there is no ponzi scheme behind it before you enter into the trade

Thanks for your attention
cc:
@stream4u