Time For Another Leg Up
In my last post covering SPS I gave a positive outlook in terms of price. With the recent news coming from Splinterlands, it looks like we are going to see positive price pressure. In fact, it has already started with the rise to almost 0.9 cents which could be the beginning of a bigger impulse wave.
Two weeks ago we got the news that SPS went live on BASE. This is a big development, since it makes it possible to get SPS via Coinbase into the game with extremely low fees and little friction. This essentially fills the gap of a „big listing“ for SPS which the community has needed for a long time.
Users will be able to:
- Buy USDC on Coinbase
- Swap for SPS on the BASE app
- Use the direct bridge from BASE to Splinterlands which will likely release in the coming days
The other big announcement is the release of a mini set which will be sold in December of this year. The idea is to use 100% of the revenue for the SPS DAO. The set can be purchased in DEC and SPS. However purchasing in SPS will give a significant discount at current market prices (around 40-50%). Price will likely rise to bridge this gap (which it already has) and since we can probably expect a fairly successful sale, it should create positive price pressure for the future. The team itself is expecting more than $2.5M in revenue.
TA
Chart from last time is still holding up. Price is currently following the black pathway.
Here is an updated chart:
From the mini set alone we should expect a SPS price of around 1.4 cents for when the set goes live. How doe this fit into the chart analysis?
1.4 cents is where a big resistance lies; it will be difficult to overcome, but not impossible if this is indeed a larger upward trend. There is another trend line converging at around 2 cents in the coming months as well. In other words, it probably won't be a smooth ride up, yet the pattern looks good with a higher low and higher high since July of 2024.
Overall I think we can see this movement as part of an ascending channel as seen here:
This would give is a range of 2-8 cents for mid 2026 and 1-4 cents for the end of this year. Not too exciting, but they do seem like realistic targets.
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!
⛅🌦🌧🌦🌧🌨☁🌩🌦⛅🌧☁🌤🌥🌪🌧🌨🌩⛅🌦☁🌤🌥🌤⛅🌤⛅🌦⛅