Multi-timeframe Analysis Of PEOPLEUSDT Using Support And Resistance Strategy

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Hello friends,

It feels good to come here again before you all in this community.

Here in this community I have lots of friends and mentors and I will be proud to share my analysis again with them.

Today, I will be sharing my analysis with you all on PEOPLEUSDT.

The token PEOPLE is a good token in the cryptospace and I have decided to share an analysis I carried out on it today during my leisure.

I have shared my analysis on this token with you all some weeks back and today again, I want to share my analysis with you all.

The best timeframe for me to begin my analysis is on the monthly timeframe.

On this timeframe, I see a market with no noise, I see a market whose trend can be easily predicted , I see a market that compresses the overall activity of the market into a screen.

From the above screenshot , we can see that the noise of the market has been filtered by the market, and we can identify the overall market trend to be bearish.

A bearish trend is one that consist of lower lows and lower highs, and this is what we can see on the screenshot above.

I then moved to the weekly timeframe for more market analysis.

On this timeframe, there appeared to be more candles and this market posses more noise when compared to the monthly timeframe.

On this timeframe, I was able to spot a valid level and this level is a valid one because it has been severally tested by market price.

And as seen from the screenshot above, the market maked a wick on this level before it got rejected to the downside.

Then I continued my technical analysis by visiting the daily timeframe.

On this timeframe, I can see more market activities, I can see the struggle between buyers and sellers in the market, as each endeavor to drive price to their preferred direction.

Also on this timeframe, I see market price more clearly, I can see rejection made from the market as it hits this resistance level I spotted.

With this, I decided to move to the lower timeframe for more market analysis.

My analysis continued as I progressed to the 4hr timeframe for more market analysis.

On this timeframe, I was able to detect another keys in level on the price chart,and from the screenshot, we can see that the market price has previously respected this level.

I can also see how the market is striving to get to this resistance level, it strength of the bulls are in play here, as they push the market price forward.

And when the market eventually gets to this level, I wouldn't hesitate to take a sell order upon the sight of a rejection candle.

Then I continued my technical analysis as I approach the lower timeframe, which is the 2hr timeframe.

On this timeframe, I noticed and saw several candlestick, this market is filled with so much noise from traders.

And to ensure I don't get lost, I decided to identify some key market levels which I did.

The level I identified on this timeframe is a great one as it has been severally tested and respected by market price.

Then I decided to progress to the lower timeframe.

Then my analysis progressed as I continued my analysis on the 1hr timeframe.

On this timeframe, I noticed that the level I spotted on the 2hr timeframe has been broken and the market is gradually going to retest this level.

Upon the retest of this market level, I intend enter a buy order and join the ride until the closes resistance level.

The chart became clearer on the 30min timeframe.

On this timeframe, we can see the market moving aggressively to retest this level, and when it does, the bulls will take charge of the market.

Patience is an important quality for cryptocurrency traders, as this quality is one would exhibit here.

Then I decided to conclude my analysis by searching for an entry on the lower timeframe.

Switching to the 15min timeframe, I saw the price approaching the support level, and i decided to patiently wait for the market.

As seen above, I placed my buy order on the support level of the market and my stop-loss was placed right below it.

The above is my personal technical analysis of the pair PEOPLEUSDT, and as we grow on this space, there is always more for us to learn.