SLPUSDT trade ideas
SLPUSD analysisHello traders!
SLP is 90% up from last month's low and I am expecting a little more push before any downfall.
SLP is at the reaction zone and reaction zones are not the support and resistance zone but it's the zones where the market forms different kinds of patterns.
Currently, it looks like it's forming a pattern below the reaction zone and it can pump 20/25% more.
0.339 is the price that will be hard to break by SLP and it can retrace back from that level.
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SLPUSDT Long ScenarioPrice was making a big moves recently and we can identify Elliot Wave pattern. It looks like price is about to finish wave 3 and should make a correction now towards demand zone. Also that zone combines with 0.5 FIb level so I think the price might bounce there. What do you think about SLP?
Smooth Love Potion | A Closer Look (4H Timeframe)Here we can see that SLPUSDT (Smooth Love Potion) is getting ready to continue straight up...
After the initial breakout yesterday, we can see only two red candles as retrace and now immediately we see additional growth.
We have really good strength, so we can expect the next Fib. extension level to be hit right away... Notice the green arrows.
The blue square on the chart is for support.
Namaste.
SLPUSDT 35% Profit done so far with 1x. This chart is in logarithms grids. Looks like the Cup&handle pattern neckline target is 0.040. Once break and flip at 0.040 level upside then we're going to higher n higher again. And the target would be 0.094, 0.1345.
Manage your own risk accordingly with this setup.
SLP/USDT strong potential in parallel of AXS (Update)SLP/USDT strong potential in parallel of AXS (Update) - NFT Sector
Smooth Love Potion ( SLP ) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points.
SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies
SLP is also unique because of how it has become one of the few in-game tokens to be listed by Binance in its Innovation Zone. The exchange has reserved this trading category for assets “that are likely to have higher volatility and pose a higher risk than other tokens
Context:
Regarding the lake of historical data it for now not possible to present picture with a strong conviction - However the few technical elements and wave proportion can already leaning towards an interesting upside potential in parallel of the success on AXIE. The recent bullish price action is reinforcing now a new upside acceleration dynamic (RSI + EMA).
Previous analysis - 10/02/2022 :
Tactical view - 1 to 3 weeks
The fact that 3 key elements ( EMA upside breakout, RSI 50% upside breakout and first Harmonic on 3H basis upside breakout) are already bullish pre-signal allow us to be confortable with a larger rise at least to test 0,0560 (Lin scale) before 0,0910 (Log scale) in order to complete the harmonic auto-similar move (action/reaction). The next target above 0,0910 are more to be consider for a strategic horizon once 0,0910 has been surpassed at least in a weekly close.
Update :
(i) accumulation bullish momentum in dip (area possible 0,0215/0,0150) as been done
(ii) As long as 0,0170 remains a key tactical support valid the market is expecting to raise directly now towards 0,0560 Before 0,0910 (= 3780 ETHUSDT resistance equivalence on current level)
Related analysis (AXS) =>
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SLPUSDT Heavy pump is ahead As we said a lot SLPUSDT has high potential and we are looking for a pump here to the targets and resistances that are mentioned on the chart.
Local support is now 0.017$ and 0.008$ is a major support zone also if high volume here appears then we can look for +500% targets too.
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Wyckoff ReAccumaltion in SLP? Possible bullish Although SLP has unlimited supply, technical analysis is still working in this coin. wyckoff pattern was shown last time in SLP and works properly
As you can see it works here..
Now we need to complete the Wyckoff Re-Accumulation. LPS & SOS should be visible in the next few days so SLP will go up again after this.
This will be also possible since end of MARCH origin version 3 will be launced in Axie games which will increase the investors, players and breeders. Plus new burning mechanism of SLP is on the way this year. So even in fundamentals this is a bullish news. :-)
PLEASE DYOR and this is not a financial advise. Make this chart as a guide only and do your personal TA.
SLPUSDT What next after hitting this important resistance?We spotted potential falling wedge formation on SLP and price just tested out the upper trendline and got rejected.
Our focus is on 38.2% fib ret level from the previous ATH to the current ATL.
If price manage to surpass this level then our target is 61.8% level which is tagged as CRUCIAL resistance zone.
But if price give more buyer opportunity, then we can have a sharp decline from 38.2% level to where we have AOI level for re-loading of Longs positions.