DRIP Selloff and Support for Jan4, 2022 Manor Farm Catalyst

On the 12-hour time frame, DRIP has sold off to the Keltner channel. There appears to still be more negative momentum, so I expect the sell-off to continue. We need to step out to a larger time frame to look at other levels of support.

With an upcoming Manor Farm catalyst, we are seeing a bit of a DRIP selloff, possibly from people selling DRIP for BUSD to buy the Farm’s native REV token today at 11 a.m. EST.

Or, could just be taking profits … who knows!

Just wanted to do a quick article to share my observations the past few days and today.

Author’s Note: This is not trade or financial advice. All trading and investing, whether real estate, stocks, or crypto, involves the risk of loss, sometimes greater than 100% loss. Do not trade or invest with funds you are not willing to lose. Content in this article is of opinion only and presented for educational and entertainment purposes only. Please do your own research.

In the above chart, we are seeing DRIP sell off to about $80 bucks this morning. Looking at the previous time it sold off, it could sell off a bit more. So, let’s look at a longer time frame to see where there could be other areas of support.

Here is the Daily time frame for DRIP. Some other areas of support are $75 and $70.

This is the Daily time frame. The top of the Keltner Channel correlates to about $75 and the Bollinger Mean is at about $70.