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SLP / TetherUS

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SLPUSDT trade ideas

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.
Short
by MarketM8ker
3
💥SLP CONSOLIDATION WITHIN 0.0168 & 0.0217 STILL ACTIVEPlease support this idea with a LIKE👍 if you find it useful🥳 Not a financial advice🙅🏼‍♂️ 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. What do you think? Share your opinion in the comment section✍️ You can also demand for analysis of your preferred coin Follow me stay updated about this coin and more helpful projects like this🎁 Happy Trading💰🥳🤗
by PetrockFxTrading
2
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.
Long
by groveguy
6
SLPUSDTHello Crypto Lovers, Mars Signals team wishes you high profits. We are in the 4-hour time frame. The price is ranging between the support and resistance zones. If it is supported here, the next target would be the resistance zone. For the price to go higher, it needs to break the first resistance zone and to go lower, it needs to break the support zone. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Wish you luck
by MarsSignals
4