Good day Hiveians!
Join me in analyzing the crypto markets!
SPS should be out of its corrective phase now and entering a new impulse wave
Last week we argued that a breakout should occur rather sooner than later. We also noted that the subwave on the right closely resembles the one on the left - a fractal, that once we look at seems to show a breakout potential.
We first saw a further decline to 38 cents before prices started moving upwards again. Price first tested the trend line and retracted somewhat before it breached it in a second attempt. As expected, price moved strongly upwards after that and is now at ~50 cents.
What can we expect now?
To me it seems that we could once again repeat a similar pattern to what we saw previously: an impulse wave beinging us to 1-2$. The variable here, however, is the airdrop which has put a selling pressuure on SPS. Nevertheless, we are in a bull market and I don't think that prices will stay at this range much longer.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
⛅🌦🌧🌦🌧🌨☁🌩🌦⛅🌧☁🌤🌥🌪🌧🌨🌩⛅🌦☁🌤🌥🌤⛅🌤⛅🌦⛅
Check out the Love The Clouds Community if you share the love for clouds!
⛅🌦🌧🌦🌧🌨☁🌩🌦⛅🌧☁🌤🌥🌪🌧🌨🌩⛅🌦☁🌤🌥🌤⛅🌤⛅🌦⛅