Smooth Love Potion SLP (SLP/USDT) technical analysis

We can have some expectation about when the next uptrend could happen. If we consider the price as our tool to forecast, when the downtrend line breaks, the next uptrend wave will probably start. However, if we consider time, namely Fibonacci time tool for forecast, it become little tricky. As it can be seen, each time the price went up and then corrected, the time it took to go up and the time it took to correct almost doubled and tripled, respectively. If this trend holds true for future, the next uptrend must happen around the area of Fibonacci time line 2 and the last vertical green line. Also, the area intersection of downtrend line with the Fibonacci time line 1.618 is a strong one. Anyway, we have to wait and see if the downtrend line breaks and/or if there is an increase in buy volume, then we can decide.

Comment:

For future technical analysis please follow me on www.tradingview.com/u/SaeedSalehinia/