Minter
Bittensor
Hyperliquid
NEAR Protocol
Monero
Pearl
Quantus- The smooth love potion (SLP) token has been continuing the bullish momentum for more than a week.
- After maintaining the price above 20 and 50-day moving averages, the SLP token price is retesting the 100-MA line as a support.
- SLP/BTC pair price is trading in bullish territory by 4.1% at 0.0000007983 satoshis.
After hitting two all-time highs, the smooth Love Potion token was caught in the grip of bears until the bears marked a 6-month low of $0.0087. Now the recent low is acting as a strong support level for the bulls, and the bulls have been dominating the trend since the beginning of the following week.
At the time of writing, the Smooth love potion token appears to be slightly bullish by 1.16% at 0.0350 during the positive weekend. Since the low, the SLP token has recovered around 357% of the cost up to yesterday’s high ($0.407-point). Moreover, the SLP token price with the Bitcoin pair is favoring the bulls by 4.1% at 0.0000007983 satoshis.
The smooth Love Potion token has gained 34% of trading volume over the past 24-hours session. The volume bars have maintained above the 20-day moving average (blue) since early following weak. However, the volume to market capitalization ratio is 33.36%. The SLP token price is retesting the 100-MA (yellow) as a bullish hurdle in terms of the daily price chart, and the 200-MA still remains to be tested. Token has immediate support at $0.0090, and the resistance sits at $0.060.
Four-hour chart of SLP token indicates a Broadening wedge pattern
In terms of the 4-hours price chart, the Smooth Love Potion token reflects the broadening wedge pattern. However, the significant technical indicators are clearly hinting the solid bullish momentum in the token.
RSI recovered rapidly from the oversold zone, now the RSI is at 83-mark, where the bulls are taking advantage of this sign. The Token price may resist at $0.06 mark, and RSI could suggest sideways territory.
In late January, the MACD has been moving higher in the negative region since bullish crossover. The MACD line surpassed the neutral level and signal line remains to retest 0-level. However, the histogram makes higher highs. Moreover, the average directional index is moving higher, now it is at 41-mark, reflecting the solid strength in the bullish momentum.
Conclusion
The token’s price has continued to be held by bulls this week. A new low can be seen if there is a slippage in the SLP price from buyers.
Support level- $0.0090and $0.005
Resistance level- $0.60 and $0.10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
