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SPELLUSD trade ideas

Spell Token - Promising token at uptrend channelWith an excellent performance in the last days, I decided to buy Spell Token again. The price is moving within a bullish channel and has a lot of space to rise in the medium term, I made a small purchase and intend to buy more when I am at a better buying point. You can learn more about the project here: Website: abracadabra.money Including lending spells to do staking or farming. Entry: 0.0286 Stop: 0.0215 (25%) Initial target: 0.0389 (35%) Token Spell is mainly traded on FTX and Sushi DEX.
FTX:SPELLUSDLong
by MrClock
2
SPELL - Local Pattern - Bull Flag?Just a quick chart for a friend, it looks like a possible bull flag forming in the $.018 range. The 20 and 50 EMAs are acting as support for the bullish rally over the 15th and 16th of October. I marked other local levels on the 2h chart; I'd include more history but the FTX chart was the only USD pair I could find and it's data only goes back a week. Looking at price volume, the trend extended above the value area recently, but is flirting with a return back inside as the RSI continues to cool off. If SPELL closes inside the value area, reference the MACD for confirmation of short term bearish sentiment, it will post a bearish cross and a local correction that might follow to the support level noted. But for the bulls, if we reference the the MACD histogram you see a waning but bullish trend; if the price finds support in the $0.018 range (possibly wick into upper 0.017 range), we could see a third bullish rally in SPELL's current pattern that would correspond to the bull flag currently on the chart. My target for such a breakout is starting around $0.022. I'd look for a healthy corrective pattern to follow after such a breakout. Alternatively, if SPELL fails to break bullish from this flag and enters a bearish pattern- other support levels are noted on the chart but I'd look at $0.0138 as the likely lowest/worst case scenario for a correction, if the confluence of local value range, the 20, 50 EMAs and the point of control fail to support SPELL.
FTX:SPELLUSD
by 1BigPapi