In my previous SLP analysis, I said that there is a high probability of a higher low in place at 0.015 and after a spike to 0.025 the coin started to consolidate above 0.02.
I'm bullish as long as the price is above 0.015 and a buy at this moment could have a 1:3 risk: reward if we target 0.045 previous high.
However, a return of optimism in the crypto market...
Major Trendline is Getting Weaker, Expecting Breakout so Don't miss the Ride..!!
If Trendline Resistance got Cleared, Expecting +300% Bullish Wave.
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Mid Term Target : 0.0398
Long Term Target : 0.0636
StopLoss : 0.0188 ( or you can simply just hold it ;) )
Reason to enter :
Be carefull in financial markets
After a swing failure pattern, SLP went into an 8 month long corrective wave pattern as you can see in the above given chart which ended with a 4x rally last month.
1) A daily close above 0.0195 can give you an entry.
2) A daily close below 0.01733 can get you out.
3) Stochastic has crossed up.
4) Accumulation and/or contraction zone is about reach a break point...
Since its listing, SLP has traded mostly in one direction: down.
However, now the coin seems to have found a bottom at 0.001 and a leg up followed (400%)
At this moment a higher low can form that can lead to a new leg up,
The next important resistance is at 0.06 and this could mean a 300% rise
If you choose to buy this coin you should be aware of its volatility...
white moving avg holding pretty well here - good potential for upside, also we can see broken channel trendline of descending channel, retracenemt after 300% almost hit 0,786 level.... i am for upside here
THIS IS NOT A FINANCIAL ADVICE
I AM POSTING IT JUST FOR EDUCATIONAL PURPOSES