SLPUSDT Into 0.2250This is still on the Range of monthly candlestick of May.
May push back up this week or next week due to liquidity that was grabbed in the month of May.
Also, Axie infinity did update regarding reducing the limit of SLP per day in Season 18.
So, the oversupply of SLP will end as well as overinflation.
Slpusdtbuy
SLP 1W Ready, set, go!Here is the weekly time frame chart of the SLPUSDT pair
Five weeks in a row, the SLP price was falling without a break, but the trading volumes were growing. That is, the coin is interesting for users, there was interest in it, but it's just not the right time for it to grow.
And now the sixth week is coming, during which the buyers began to act and aggressively buy back the declines, and the trading candlestick begins to gain the Pinbar image — a trend reversal candlestick.
This situation allows us to assume on two scenarios in the future:
1) the growth of SLPUSD in the range of $0.35-0.38 , where it is worth fixing longs, because in the future a deep correction to $0.16 may occur again. The next powerful shot is possible only at the end of the year and that, probably, if the cryptocurrency market is positive. Global targets: $0.71 and $1.10-1.20
2) If SLPUSDT breaks through and fixes above $0.40 , it will be safe to buy long again and keep it because the sellers will be strong and easily take the level of $0.71. Global target is $1.40-1.60
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$SLP movement in the Short/Mid-TermFor the $SLP Holders, it was a long and painful last 30 days, for the buyers, we could see a huge upside considering the buying opportunity.
in the next days of the week, I expect that the price will find support below the current price, and explode towards the 0.21 resistance zone, and to 0.337 after that. If not, we could be seeing the $SLP reaching its all-time lows, in the process I took the RSI divergence and the S/R levels that the price action had a reaction to since way back.