SPELLPERP trade ideas
SPELLUSD strong bullish break-outThe Spell token (SPELLUSD) has recently broken above the Channel Down pattern that it's been trading in since December 27 2021. Yesterday it made another big bullish break-out as it broke above the 1D MA100 (green trend-line) for the first time. Ideally we would like to see a 1D candle close above it and the 0.382 Fibonacci retracement level as well but with the 1D MACD invalidating a Bearish Cross that was previously seen on the Channel's Lower Highs, we expect this to be the decisive move to start a long-term bullish trend. We are targeting the 1D MA200 (orange trend-line) on the short-term.
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SPELL ExpansionSPELL looking to expand. But can it overtake TRR (range resistance)? Second attempt and curiously timed with the Celsius Token rally. But this may just be a coincidence. A limit sell is in order here: anywhere between .272 and .618 will do the trick. Remember we are still in the countertrend; gotta play it safe. Good luck, safe trading!
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**Not financial advice. Please DYOR and trade at your own risk.
Downward Channel broken at .02 & .009This is good news for the previous ceiling indicator lines being broken at .02 & .009, continuing neutral RSI to indicate a possible trend to further upside, MACD trend sentiment looking consolidating to the upside for a further breakout from previous ceilings. Let's see if the previous ceilings (.009/.02) remain broken and can be the next bottom in the coming weeks. If this trend continues, we will aim for the next .03 downward ceiling line in the coming months/years if sentiment grows.
Spell cup and handle?Bullish news for Spell yesterday with yield payed in stablecoins, details to follow.
Chart is up a good amount from lows but still REALLY far from ath.
Watching this cup and handle formation. If volume picks up on a retest of local high followed by a breakout could be a good buy signal.
$SPELL follow up targetsHere is the same chart on a daily timeframe with RSI and targets.
Full disclosure, I took a bath in this one and am trying to decide if it is worth to double down and continue to own the asset. I think I will eventually double down, and today might be a great day too.
Rsi put in a new high on a new low + broke long term downtrend
Spell big bull comingCross the pink line great time to watch for a big runner up. Stable resistant at the .006 this coin did a run today to the .008. Big investors locking up the coin before taking off. Great target $.03-$.10 This coin is similar to doge coin with 3x less amount of coins. Very high % of pulling to the up side. MACD is crossing, RSI did a over sold to the 16 rsi.
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Been doing crpto analysis for over 9 years
SPELLUSD (4H) Bullish reversalHi Traders
SPELLUSD (4H Timeframe)
Waiting for the upward break of 0.0086 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 0.0058 would cancel the bullish scenario.
Trade details
Entry: 0.0086
Stop loss: 0.0058
Take profit 1: 0.0103
Take profit 2: 0.0130
Score: 4
Strategy: Bullish reversal