SLPUSDT, What should we do now ...Hello everybody
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According to the chart and last analysis we expect the price that wanna start the correction wave and exactly happend and now we expect the price should have more correction because of the condition of market and its need to correct the rally movement that is happend in past .
if you wanna learn technic of analysis of SLP you check our last and previous analysis of SLP that how we can use triangle in the chart
Previous analysis :
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Abtin
Slpusd
SLP LIKELY MOVE - TO FALL TO $0.0145Please support this idea with a LIKE👍 if you find it useful🥳
Not a financial advice🙅🏼♂️
With Slp market price at $0.0160, price has been in a downtrend since it broke downward from the consolidation. It’s making it way towards the next available support which I think $0.0145 is the next support level.
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SLP Danger zone Not much has changed since I posted about SLP a few days ago. I have linked my previous post below as everything within it is still relevant in my opinion.
Take this into consideration:
1) SLP has now flipped the green box I had from support to resistance, so I have changed it to red in color indicating a zone of resistance.
2) The longer we hang out below this box the higher the likelihood becomes that situation 2 will play out, however situation 1 could still be on the table.
3) AS LONG AS SLP ISSUANCE STAYS 10-15X GREATER THAN THE BURN RATE, IT IS HIGHLY UNLIKELY WE WILL CONTINUE TO MOVE UPWARDS!!! This is a key component to the price everyone seems to be forgetting. SLP still has a big inflation problem right now. The only way we can officially move into an uptrend is if the mint rate decreases drastically, OR if the market cap increases at a rate that is greater than the average current mint/burn rate. You cannot keep increasing supply of a coin by 10-15x its burn rate and expect an uptrend unless there are a ton of buyers. Basic supply and demand.
4) I know Axie is aware of the mint/vs burn rate problems but as of today they still exist. Until this changes i'm relatively bearish on this coin.
5) Remember, this is not financial advice and always do your own analysis/research before making any decisions on the market.
SLP BROKE SUPPORTPlease support this idea with a LIKE👍 if you find it useful🥳
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With respect to my previous analysis, the question asked has been answered, price broke support and started to fall.
Watch out for next forecast on slp🔥
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SLP, whats next? BE CAUTIOUS!!!!When SLP was trading around the 0.023 range, I mentioned that we would likely come to the 0.018 cent region on SLP before experiencing some support. So what is next?
1) We have quite a large ichimoku cloud ahead of us. SLP would need to rally 190% from this point to have a bullish breakout from the cloud. As you can see SLP rejected almost too perfectly from the cloud at its recent high of 0.04 cents.
2) We have broken back below the daily ema ribbon. - Not a great sign IMO because this means we have flipped support into resistance.
3) The green box I have drawn is basically the last line of defense for SLP since it marks the only key area of support SLP has on this downwing we have been seeing. If it breaks this green box and flips it to resistance, its is very likely we go back to where it started before the pump around the 0.008 cent region.
4) Despite Axie claiming to reduce the minting of coins, the burn vs mint rate chart on their website indicates that there is substantially more SLP being minted than burned, at least to this date. This does not make for a bullish scenario as the market cap would have to continuously move upward at the same rate coins are being minted just to keep the current price action.
I have two scenarios on the chart. I am more inclined to believe we will see something like #2 play out, however 1 could very well be a posibility. A "final shakeout" before more downside.
I'm pretty bearish on this coin until the mint rate closer match the burn rate of these coins.
Remember, this is not financial advice and always do your own analysis/research before making any decisions on the market.
💥SLP CONSOLIDATION WITHIN 0.0168 & 0.0217 STILL ACTIVEPlease support this idea with a LIKE👍 if you find it useful🥳
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Price has been in this range since 23rd February till date within $0.0168 & $0.0217. Price has tested this price level serving as support and resistance twice.
Price is approaching the support at $0.0168 to test it the 3rd time. The question on our mind is will price break this support or rise to the resistance zone at $0.0217.
There’s no answer to that yet. We need to wait for what price is going to do. Therefore, this is the possible direction to which it can follow.
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SLP may rally up to 570%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 (based on volume)
5) Very high 24hr trading volume (see on CMC)
Targets can be seen as 0.618 the green box and further extension levels.
Trade Safe!
DYOR this is not a financial advice.
SLP 4H Analysis🟢 SLP is trying to break the descending trend line. If SLP is able to break above $0.02 and Close above EMA 200 then It will move towards the upper resistance of $0.0225-$0.023 area. The support level remains the same. Wait for a breakout or rejection before opening a new trade. Use proper stop in all your trades.
⚠ This Analysis Will be Updated.
✍ Analyzed by Amirhossein
📆0.3.05.2022
SLP can rise 300%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 and the fact you can lose more than half of your investment in case of a new low
💥SLP PRICE CONSOLIDATION🤔Please support this idea with a LIKE👍 if you find it useful🥳
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Here is my new update on SLP.
As highlighted on the chart, price broke out of the falling wedge and went straight into consolidation.
Price has been rallying within this zone at 0.0186 - 0.0217 from 24th February till this current time.
This question at hand is will price break the consolidation to the upside or downside?
What do you think?
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SLP looks like it is ready for some bounce on smaller TFswhite 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
💥SLP - Target at $0.0141 still validPlease support this idea with a LIKE👍 if you find it useful🥳
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This right here is a descending channel with two marked areas of support and resistance.
Price is rising towards the upper trendline. If it reverse at this trendline, price will fall to $0.041.
If it break upward from the channel, then this idea is invalid.
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💥SLP LIKELY MOVE - RISE TO $0.0195 & FALL TO $0.014Please support this idea with a LIKE👍 if you find it useful🥳
Not a financial advice🙅🏼♂️
As I said in my last post on SLP, the target set at $0.018 has been hit. It needs to retest before continuing the bearish move.
As highlighted on this chart, price has been breaking support/demand zones. Followed by a pullback and a bearish move.
Therefore, I expect a retest to the breakout point at $0.0195 - $0.020, then a bearish move to $0.014.
But if price hit the pullback region and it does not reverse, we may see price above $0.02.
What do you think?
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💥SLP - TO RISE TO 0.0227 OR FALL TO 0.018Please support this idea with a LIKE👍 if you find it useful🥳
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The answer slp gave to the question i asked in the last idea is NO
Instead of a bullish break out of the pennant, we had a bearish breakout.
With this breakout, slp is totally bearish right now.
The next target is $0.018.
It can also rise to $0.0227 for a retest.
What do you think?
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💥SLP - TO FALL MORE TO $0.024📉Please support this idea with a LIKE👍 if you find it useful🥳
Not a financial advice🙅🏼♂️
With respect my last setup on slp, price respected the setup and made a fall to $0.025 here👇
Here is what I expect next👇
Price broke out of a symmetrical triangle and it’s making it way to $0.024.
When it reach that price, we’ll know the next price It’s heading to.
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💥WILL SLP BREAK THE BULLISH PENNANT?🚀Please support this idea with a LIKE👍 if you find it useful🥳
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Right here is the bullish pennant pattern, very similar to a falling wedge pattern.
I expect a fall to $0.022 and a rise towards $0.038.
This can happen only if the support zone on the lower trendline of the bullish pennant pattern reverse price back to the upside.
What do you think?
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