Many people are asking to analyze the SLP coin, and to answer the question why the coin has dropped so much.
The truth is simple, most coins are down 60% or more due to bitcoin correction. But in addition to that it should be noted that this coin has unlimited issue, so it falls even more than others.
From the side of technical analysis, every small rise was followed by big volume and further drop, that means that big holders are trying with every good opportunity to sell their coins. This is a bad signal. But it doesn't mean that coins won't grow, when the altseason starts all coins will grow, but in our opinion it is better to choose more promising options.
It is also worth highlighting trend lines, in case the local trend line is broken, the price can reach the marked liquidity zone, where there will be a good opportunity to fix your profits. In case of breakdown of the global trend line a strong impulsive rise can start.
Important: This is not a buy advice!
Sometimes we share signals, if you want to receive them, we advise you to subscribe to our trading view and other platforms, all links below, in the comments leave your questions and the name of the coin you want us to analyze. 💚
The truth is simple, most coins are down 60% or more due to bitcoin correction. But in addition to that it should be noted that this coin has unlimited issue, so it falls even more than others.
From the side of technical analysis, every small rise was followed by big volume and further drop, that means that big holders are trying with every good opportunity to sell their coins. This is a bad signal. But it doesn't mean that coins won't grow, when the altseason starts all coins will grow, but in our opinion it is better to choose more promising options.
It is also worth highlighting trend lines, in case the local trend line is broken, the price can reach the marked liquidity zone, where there will be a good opportunity to fix your profits. In case of breakdown of the global trend line a strong impulsive rise can start.
Important: This is not a buy advice!
Sometimes we share signals, if you want to receive them, we advise you to subscribe to our trading view and other platforms, all links below, in the comments leave your questions and the name of the coin you want us to analyze. 💚
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