Let’s see if this falling wedge pattern in the weekly plays out. We still need to wait a little longer though. We beautifully bounced on the lower trendline as you see. Good luck!
How?! If Axie Infinity uses SLP to breed and people are sticking with them instead of burning them, how do you think that will happen?! You have to understand that there's really no math involved in this coin, just token economics And if Axie doesn't do anything about it that will never happen So we'll have to wait for Axie to do something about it
potas58
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@LuisBastos, I disagree - every token is math, but sometimes it has calculation errors that need to be fixed with new updates. Many of the top 100 coins also have had updates in their history - the same for SLP.
Trader_Maestro
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@potas58, This is just basically a problem with the supply. If you look at the depth charts on an exchange, you'll see that there are so many sellers at around 0.1-ish, while very little buyers. Human psychology is the number one factor in this price action. No hype going around, the price will stagnate. If there is fear, there you go it plunges. If traders see this coin is worth buying (say for a quick buck) if technicals show it, then we'll see some upside. Let's just see what's going to happen in the coming weeks.
LuisBastos
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@Trader_Maestro When I say "no math involved" that's what I meant
goalsdave
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I think that may increase to 0.15 or 0.30 at least