Smart Layer Network Upside
Updated
With a decline of about 90% since launch, SLN has an extremely high chance of upside in the current market conditions. The project has a rather active community on discord and X, and is developing a new was to use tokens - Tapps - in an interactive manner on social platforms. They aim it to be a mainstream friendly use of tokens, and seem to have a good roadmap planned, including many partnerships and new listings like Binance.
Furthermore, the chart has likely formed a cup and handle pattern seemingly ready for an imminent breakout once volume comes in.
Any entry under $0.3 seems good, and upside potential is between $0.8 and $3.00, with an ATH above $6.00.
Current MCAP, even fully diluted, seems low for such a project and their community size.
Furthermore, the chart has likely formed a cup and handle pattern seemingly ready for an imminent breakout once volume comes in.
Any entry under $0.3 seems good, and upside potential is between $0.8 and $3.00, with an ATH above $6.00.
Current MCAP, even fully diluted, seems low for such a project and their community size.
Trade active
So far so good - SLN has been holding a solid support in the 0.2-0.25 range. A few wicks up tested the waters and likely hit stops. Expecting a move up to 0.5-0.7 next, with a consolidation there before moving up to the previous support level around 1.7-2.Note
SLN attempting to break out of the resisting trendline and establish another support near 0.27. If it breaks 0.3 and holds, next target would be 0.41 to sustain.Note
0.3 has been holding so far. Looks like 0.33 is the next real resistance that needs to be broken and held before the moves to 0.41.Note
Had a recent pullback down to 0.2, after which it pumped back up to 0.35, and corrected to 0.27. Filled some orders near 0.2 that I did not really expect to be filled. Nice!
Three things:
1) Looks like it double bottomed / checked the longer-term support area
2) The trendline has been broken on this pump, and is now being back tested for the break at 0.26-27.
3) If it holds, the next hurdles are: 0.35, .40, .50, .70, and 1.00. If these break, should be 1.6 as next milestone.
Happy trading!
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