It seems most here have like me started to ignore alt pumps that give no signal of sustainability, like the recent one in VET. I have very little interest in catching junk in a run until I've studied the chart for edges. But I can say if you want to play them you have to catch them early. One method is when the daily 8MA crosses the 20MA. In my experience, averages are completely useless for supports, unless you bespoke them to the asset. But averages do a decent job of demonstrating trend direction, and strength. If you are buying way above that cross up, you're fully chasing and should be prepared to lose it all. But if you catch the trend early, buying near that cross, you're risk is low if:
1. You don't make your initial buy a full position.
2. You keep a stop at the low before the cross.
3. You are prepared to add when it drops below the averages, provided they continue to point up (trend is undisturbed)
I am happy to give you my take on them, and EW based supports, if you want to play. Just take your own responsibility for trade parameters when EW is not clear. And, you may have to put up with my lack of faith in the chart. Most of this junk is well outside my tradeplan and that affects analysis. But I'll trade garbage like say Ripple when I've studied it for so long. (usually short with Ripple). It's very hard to take a chart you never touch, get an edge, and then babysit. Since I trade for a living, I have to stick with what wins regularly, and be conservative risk wise, that means not chasing a foreign chart.