Hello everyone, this is my analysis of SLP,
Beside this always have an eye on BTC because leader can accelerate the movements and momentum.
1- We are in down trend yet and as you can see price is moving into downward channel.
2- Price became close to it's important resistance 0.069 price.
3- In past price tried 2 times to break the resistance but failed, so I guess for the third time it will fail.
4- the volume of the trades are quite attractive in this low.
based on the above situations I believe it will be good for Long position.
----- this is not financial advice -------
Trade with low leverage and make sure to follow risk management while opening a position.
Beside this always have an eye on BTC because leader can accelerate the movements and momentum.
1- We are in down trend yet and as you can see price is moving into downward channel.
2- Price became close to it's important resistance 0.069 price.
3- In past price tried 2 times to break the resistance but failed, so I guess for the third time it will fail.
4- the volume of the trades are quite attractive in this low.
based on the above situations I believe it will be good for Long position.
----- this is not financial advice -------
Trade with low leverage and make sure to follow risk management while opening a position.
Comment:
---- First target reached, trend line is broken now and pull back tested successfully----