Can SLP token repeat the insane growth of AXS
Recently, we made a series of ideas for the AXSUSDT pair, the price of which was growing very quickly and almost without rollback.
Today the trading pair SLPUSDT got into the horizon.
Small Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves as a substitute for experience points.
SLP and AXS tokens are assets of the same Axie Infinity game.
Looking at the SLPUSD chart, we can see that the price is consolidating at the upper part of the channel before a possible upward breakout.
Of course, one should not reject the possibility of a fall of the price of SLPUSDT for the lower support to the $0.19.
Though, we assume that SLP can repeat the strong growth following the example of AXS. And we set the upper target for ourselves around $0.70.
This idea is just our thoughts and assumptions and not a call to action.
Take care of your deposits.
ADA: Be careful with longs, Cardano chart positive is fading
The last time we made a global idea for the ADAUSDT pair was 3.5 months ago.
Then we wrote that there will still be an increase in ADA to $2, but for this we need to wait a bit. You can check the result below.
But now, looking at the global ADAUSD chart, we no longer like it.
The most positive scenario that is currently visible on the chart is an increase to $1.50. There we would recommend closing the longs and looking around. If sellers are able to fix above $1.50, then good, you can re-enter the position with them and continue to keep a long.
But if the price drops to $1.20, then buyers will have to sweat a lot to raise the price up and this will be the first sign of danger for longs.
If sellers push the price up to $1.10, this will be the second warning signal and will mean that buyers are losing control of the situation.
In this case, sellers will seize control over the ADAUSD market, and then the red scenario will fully activate.
The target of working out the fall, according to the red scenario, will be around $0.40.
Someone will say that this is a terrible and unrealistic scenario, while others, on the contrary, will gladly rub their hands. Because there may be a good opportunity to buy ADA cheaply again in their investment portfolio.
There is no 100% correct statement, but we must remember that everything is possible in a crypt and only time will judge who was right and who was not.