Fibonacci retracement levels are useful for predicting potential price reversals. Key levels (38.2%, 50%, 61.8%) offer support or resistance during Ethereum’s price retracements, helping traders make informed decisions.
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Look for sudden, unexplained price movements paired with high trading volumes. Patterns like rapid pump-and-dump or coordinated social media hype are red flags. Also, watch for large wallet transfers that may signal orchestrated trades.
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Innovation in a cryptocurrency project’s technology can set it apart from the competition. Start by looking at its core features—does it offer unique solutions to common blockchain challenges, such as scalability, privacy, or consensus mechanisms? Projects utilizing advanced technologies like sharding, zero-knowledge proofs, or hybrid consensus mechanisms often show a high level of innovation. Evaluate how the project is pushing the boundaries of blockchain use cases, such as enabling new financial products, decentralized governance models, or cross-chain interoperability. Finally, assess whether the project is open-source and has a vibrant developer community—this encourages continuous innovation and refinement of its technology.
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