A Quick Recap
Last month I published my introduction to Findora, a privacy-focused layer 1 geared toward WEB3, and more recently, gaming. I love micro-cap layer 1s that are simultaneously Proof-of-Stake projects. When you look at Findora, and what it has to offer, it is somewhat similar to Taraxa, another micro-cap layer 1 that surged more than 2000% in a matter of weeks. Also, a Proof-of-Stake project, TARA, provides amazing passive income potential.
I recently published an article grouping these two projects, as a “passive income machine”. Both offer an incredibly high yield and simultaneously, have tremendous upside potential. With market cap valuations below $100 million, these babies can fly! Anyway, back to Findora. Taking a look at FRA on the 12-hour chart reveals a rather attractive formation. Findora is forming a classic rounding bottom formation and is beginning to appear extremely bullish.
A 50% breakout from these levels is the first stop. It also aligns with previous resistance. Furthermore, take a look at the two wicks I have pointed out with the blue arrows. This thing is pushing for a break above $0.0025. I gave readers Findora at approximately $0.0018, so profits should already be in the bag for those who moved on it. Ideally, I would like to see FRA break above $0.0025 before a potential broader market breakdown.
If that were to unfold, chances are FRA would consolidate above $0.002 and ultimately, keep the rounding bottom formation intact. That’s crucial at this point. In my opinion, Findora has the potential to 100X, at least. With a current market cap of only $20 million and a bull market ahead, it’s a high probability. Not many people seem to be aware of this project. However, just as I mentioned regarding Injective Protocol eight months ago…
I doubt it will stay that way.
There’s just too much on offer here for its current valuation. This is a prime example of value investing. All you Warren Buffet fanatics should be foaming at the mouth with this one! Zooming out and taking a look at the daily chart looks even more bullish. In actuality, this formation would still be intact above $0.00185. A brief wick below would most probably also be acceptable, provided there’s a quick bounce.
I am starting to get really bullish on FRA. It’s been trapped at these levels far too long. A serious breakout is simply a matter of time. With such a tiny market cap, price discovery will be exciting. However, FRA managed to hit $0.10 in 2021… even though it was completely unknown, and in many ways, still is.
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Final Thoughts
I am happy to keep scooping at these levels. When Findora finally does breakout it will be worth the wait. Even a move to halfway of its all-time high is 50X. Great risk/reward ratio. Anyway, just my opinion. Conduct your own research, and proceed with caution. See you in the next one!
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Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto
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