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Smoothlovepotion

SLP Danger zone Not much has changed since I posted about SLP a few days ago. I have linked my previous post below as everything within it is still relevant in my opinion. Take this into consideration: 1) SLP has now flipped the green box I had from support to resistance, so I have changed it to red in color indicating a zone of resistance. 2) The longer we hang out below this box the higher the likelihood becomes that situation 2 will play out, however situation 1 could still be on the table. 3) AS LONG AS SLP ISSUANCE STAYS 10-15X GREATER THAN THE BURN RATE, IT IS HIGHLY UNLIKELY WE WILL CONTINUE TO MOVE UPWARDS!!! This is a key component to the price everyone seems to be forgetting. SLP still has a big inflation problem right now. The only way we can officially move into an uptrend is if the mint rate decreases drastically, OR if the market cap increases at a rate that is greater than the average current mint/burn rate. You cannot keep increasing supply of a coin by 10-15x its burn rate and expect an uptrend unless there are a ton of buyers. Basic supply and demand. 4) I know Axie is aware of the mint/vs burn rate problems but as of today they still exist. Until this changes i'm relatively bearish on this coin. 5) Remember, this is not financial advice and always do your own analysis/research before making any decisions on the market.
Short
by MarketM8ker
SLP BROKE SUPPORTPlease support this idea with a LIKE👍 if you find it useful🥳 Not a financial advice🙅🏼‍♂️ With respect to my previous analysis, the question asked has been answered, price broke support and started to fall. Watch out for next forecast on slp🔥 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💰🥳🤗
Short
by PetrockFxTrading
3
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 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
Smooth Love Potion Support Found? Recovery Possible!Remember my last trade idea for this pair? I mentioned that after the first wave comes a retrace and then a new wave. See it here: Now, the second wave can be over and prices start to move up. We have high volume today and the MACD remains strong... It is still tricky though, as this can easily reverse to test new support before prices going up. Here I am keeping it simple... You can find the potential bullish path on the chart. Namaste.
by AlanSantana
8
💥WILL SLP BREAK THE BULLISH PENNANT?🚀Please support this idea with a LIKE👍 if you find it useful🥳 Not a financial advice🙅🏼‍♂️ Right here is the bullish pennant pattern, very similar to a falling wedge pattern. I expect a fall to $0.022 and a rise towards $0.038. This can happen only if the support zone on the lower trendline of the bullish pennant pattern reverse price back to the upside. What do you think? Share your opinion in the comment section✍️ Follow me stay updated about this coin and more helpful projects like this🎁 Happy Trading💰🥳🤗
Long
by PetrockFxTrading
11
SLP to ~ $0.018 Alright we have quite a few things going on here with SLP. 1) Even though there's been news of Axie reducing coin supply to stabilize price, im still seeing in increase in supply by around 500,000 coins daily. That combined with decreasing demand does not make for a bullish situation at this moment. 2) We have rallied over 300% in about two weeks in combination with the daily ichimoku cloud touch. That cloud spans roughly 140%. This means SLP will have to rally another 140% with increasing daily supply just to break the bearish cloud. 3) We were in a beautiful bull flag on the 4hourly chart but the problem with this is the price made it pretty much all the way through the apex, which generally isn't a good sign. Especially after testing very heavy levels of resistance. 4) We have potentially a inverse cup and handle forming on the lower timeframes (4hr, 1hr) that would put the price right around $0.018. This also lines up with one of the very few major support zones SLP has charted in its lifetime, which you can see with the green box. If we do not react from here it is likely to go all the way back down to the price it was before this pump. 5) The 0.018 cent level also lines up relatively well to the .618 area on the fib retracement. A wick down to the green box would suffice. 6) This is not financial advice. Trade carefully.
Short
by MarketM8ker
💥SLPUSDT LIKELY MOVE- TO FALL TO $0.025Please support this idea with a LIKE👍 if you find it useful🥳 Not a financial advice🙅🏼‍♂️ As highlighted on this chart, slp broke the inner trendline and It’s restesting back to the breakout point. I expect it to fall to $0.025 as the first target before we know the next possible scenario. What do you think? Share your opinion in the comment section✍️ Follow me stay updated about this coin and more helpful projects like this🎁 Happy Trading💰🥳🤗
Short
by PetrockFxTrading
24
💥SLP - ANOTHER CHANCE TO MAKE 50% - 60%Please support this idea with a LIKE👍 if you find it useful🥳 Not a financial advice🙅🏼‍♂️ The short term target still remain $0.0470 and $0.0500. Did you make profit from my last post on SLP? In my last post I gave a signal to pick a long position at the provided BUY AREA Price is still within this buy area and hasn’t hit the stop loss given. If you missed the last signal and still want to hop in on this, you can go in here. SLPUSD BUY POSITION Buy within - $0.0285 - $0.0335 Stop loss - $0.0255 Take profit 1 - $0.047 (60% ROI ) Take profit 2 - $0. 05 (70% ROI ) Risk - 10% We had a false breakout from the resistance zone as indicated on the chart which led price back into the buy zone. Slp may dwell in the buy zone before rising again and it can shoot out very fast. What do you think? Share your opinion in the comment section✍️ Follow me stay updated about this coin and more helpful projects like this🎁 Happy Trading💰🥳🤗
Long
by PetrockFxTrading
20
Smooth Love Potion | The Path to 875%Smooth Love Potion (SLP) had a major breakout two weeks back and it is now entering its second wave. After the initial breakout we get a correction and then additional growth, this is marked by the red and green arrows on the chart. The sideways consolidation can vary, for example: 1) You can see a 7-9 days total correction and then prices go up. 2) Or, you can see 15, 20, 30 days total correction and then prices go up. In both cases SLPUSDT would stay within the previous low. 1) 2) Main chart above. Patience is key. Many more opportunities are developing. While the markets consolidate take the time to study. Support my work with your love, likes and comments. I'll be back again tomorrow. Thanks a lot for the amazing support. Namaste.
Long
by AlanSantana
11