SLP/USDT Potential channel 340/118%. Wedge.

Potential channel 340/118% price in its lower zone. The volume of buyers is observed. Wedge (secondary downtrend), the price moves to break its resistance. A similar trading situation as on the ICP before the trend reversal.

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Past trade idea on this speculative "group 4" creation
SLP/USDTdowntrend channel.Working on the instrument

+240%

Comment:

in the first case there was no wedge breakout, the entry point was not reached. At the moment the wedge has reformatted into a downward channel. The price is in the 613 level zone (the lows of the last squeeze before the reversal +300%).

Similar trading situation as on ATOM/BTC 13 01 2021 before the trend reversal, but on ATOM managed to fail the price below the last squeeze-out

Comment:

level 613 became a downtrend reversal. +50%, price reached downtrend resistance (red). A large volume of the buyer came in. Fake volume, redemption of their large orders, but the effect on the chart is there. Local pullback after the momentum. Now the price is in the zone of the level of 810

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1 hour

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price again approached the resistance of the downtrend channel (secondary trend). There is potential for a trend reversal. But remember, the project is a speculative scam, so it is suitable only for local work, taking into account the risks.

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+30%

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After the breakdown of the resistance of the downtrend (secondary downtrend) a local channel is formed. The price at its lower part

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Over +100% from the breakout of the local downward wedge to the resistance zone of 1144 "Entered" (for the chart) a huge buyer volume. Squeeze to 0.136. Now a pullback to the local sidewall zone.

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Rollback after the + 107% impulse that formed a wedge-shaped formation. The price is now in the inner channel zone. Potential reversal zone.

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