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...
SLP / USDT
Slp on the show again
Now its facing strong resistance of broadening wedge
if breakout done successfully ..
next resistances levels are shown in chart
Keep your eye on it
#SLP (update)
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 :
HUGE Volume!
Elliot Waves
Upward Trend
Ichimoko breakout
Be carefull in financial markets
GODBLESS
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
