SLP / TetherUSPanjang
SLPUSDT time for reversal?
SLP has corrected ~95% from ATH. Not much room to go any lower.
From EW perspective it looks like it has completed/completing wave 5. Looking like it has found support at around 0.018 with a few spikes in prices with good volume which is a good indication.
Log charts shows a better perspective of dynamic downwards resistance line that need to be broken in order for SLP to go higher.
After breaking which we can expect price to climb to the previous dynamic support around 0.047. If price breaks this level we can expect a further pump towards the previous ATH.
Little downside potential and a lot of upside potential makes this a good time to buy. Simple rule is buy low sell high.
Can it go any lower?
Possibly. That's why we use a tight stop loss.
Will it go any lower?
Probably not.
Good luck!
From EW perspective it looks like it has completed/completing wave 5. Looking like it has found support at around 0.018 with a few spikes in prices with good volume which is a good indication.
Log charts shows a better perspective of dynamic downwards resistance line that need to be broken in order for SLP to go higher.
After breaking which we can expect price to climb to the previous dynamic support around 0.047. If price breaks this level we can expect a further pump towards the previous ATH.
Little downside potential and a lot of upside potential makes this a good time to buy. Simple rule is buy low sell high.
Can it go any lower?
Possibly. That's why we use a tight stop loss.
Will it go any lower?
Probably not.
Good luck!
Penafian
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