Serum is one of the primary projects built on Solana and overall, I believe it has a strong future ahead as backing by FTX is strong.
Chart, as usual, depends on what happens with BTC.
I am still leaning bearish for BTC, so I would expect this WXY to play out. Bullish alternative below.
Volume and Price action shows:
Target 1: 15
Target 2: 37
Target 3: 139
P.S: Anything I say or do, should always be taken with a pinch of doubt. You might make or lose money based on my opinion, but you are solely responsible for your own actions. I am not your financial advisor!
#SRMUSD #SRMUSDT
SRM is on a strong support line, many time touched but not broken, once reached the resistant line (red line) and break it at 6.65 also closes a 4 hours candle above 6.65 the next target will be 8.5. Also a candle opened above moving average which indicates the price will rise.
SRM is a great project that has yet to reach a price that is respecting its ambition. This was a great FIB retest. This based on TA is a great buying level
Serum is a low cap DEX built by FTX team on top of the Solana Blockchain to empower DeFi and compete with CEX.
The whole Solana ecosystem is rising and Serum look pretty strong when we look at TA.
Short consolidation (clean ABC) in March after precedent mark up in price.
Price is currently above Point of Control (PC) of the consolidation and should at least...
SRM USD has lost its bullish structure on the daily
Will not be shorting, but have sold my long positions (have been entered since $1)
Next level of interest here is 4.20 which was previously resistance that flipped to support
A break of this would indicate more downside
Will buy dip if support is found at 4.20 - not shorting as I do not like to short in a bull run
![SRMUSD: SRM swing trade entry ALERT ---- [LONG @ 3.305]](https://s3.tradingview.com/o/obTeOiGw_mid.png "SRM swing trade entry ALERT ---- [LONG @ 3.305]")
