SLP/USDT strong potential in parallel of AXS (Update)

SLP/USDT strong potential in parallel of AXS (Update) - NFT Sector

Smooth Love Potion ( SLP ) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points.
SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies

SLP is also unique because of how it has become one of the few in-game tokens to be listed by Binance in its Innovation Zone. The exchange has reserved this trading category for assets “that are likely to have higher volatility and pose a higher risk than other tokens

Context:

Regarding the lake of historical data it for now not possible to present picture with a strong conviction - However the few technical elements and wave proportion can already leaning towards an interesting upside potential in parallel of the success on AXIE. The recent bullish price action is reinforcing now a new upside acceleration dynamic (RSI + EMA).

Previous analysis - 10/02/2022 :


Tactical view - 1 to 3 weeks

The fact that 3 key elements ( EMA upside breakout, RSI 50% upside breakout and first Harmonic on 3H basis upside breakout) are already bullish pre-signal allow us to be confortable with a larger rise at least to test 0,0560 (Lin scale) before 0,0910 (Log scale) in order to complete the harmonic auto-similar move (action/reaction). The next target above 0,0910 are more to be consider for a strategic horizon once 0,0910 has been surpassed at least in a weekly close.

Update :
(i) accumulation bullish momentum in dip (area possible 0,0215/0,0150) as been done
(ii) As long as 0,0170 remains a key tactical support valid the market is expecting to raise directly now towards 0,0560 Before 0,0910 (= 3780 ETHUSDT resistance equivalence on current level)

Related analysis (AXS) =>
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