The price is moving in a parallel channel and is currently on the edge of breaking out from the descending triangle formation, which has higher odds of breaking to the downside. So if that happens, it won't come as a surprise, and in fact could be a good opportunity to start opening longs in the zone of demand or near the bottom trendline.
However- overall the market sentiment is pretty bullish, and the price is being supported by 200EMA, which gives a good chance for continuation. No valid entries for now, until the price reclaims 8.16 level (nearest resistance) Although If ones like to gamble, they may buy the pre-breakout setup at current price (now) 😎
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About SRM:
Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance (DeFi). (DeFi).
Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serum’s on-chain orderbook to share liquidity and power their trading features for institutional and retail users.
In light of the popularity of DeFi and the growth of DEXes on Ethereum, users and developers are limited by high gas costs and slow transactions. Serum aims to resolve these traditional problems of DeFi, as well as issues of centralization, low capital efficiency, and liquidity segmentation.
Source: coinmarketcap
However- overall the market sentiment is pretty bullish, and the price is being supported by 200EMA, which gives a good chance for continuation. No valid entries for now, until the price reclaims 8.16 level (nearest resistance) Although If ones like to gamble, they may buy the pre-breakout setup at current price (now) 😎
----------------------
About SRM:
Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance (DeFi). (DeFi).
Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serum’s on-chain orderbook to share liquidity and power their trading features for institutional and retail users.
In light of the popularity of DeFi and the growth of DEXes on Ethereum, users and developers are limited by high gas costs and slow transactions. Serum aims to resolve these traditional problems of DeFi, as well as issues of centralization, low capital efficiency, and liquidity segmentation.
Source: coinmarketcap