SPELL - in rectangle consolidationIt looks like SPELL is inside rectangle consolidation with strong buy at 0.0215$ and sell above 0.0262$.
Bullish:
- strong buy at support zone (nice wick festival here) ✅
- Stoch RSI on 12h and lower time frame ✅
- nice fakeout wick which is bought up quickly ✅
Bearish:
- RSI breakout ❌
- Stoch RSI on D, 3D ❌
Check previous SPELL analysis before breakout:
Spellusdt
SPELL predictionAfter an aggressive selloff that brought SPELL to sharply to $0.006 in early December, SPELL was able to recover again, and started a new uptrend.
In the second wave, the current trend was able to break its downtrend line and reached today the 0.382 Fib level.
Now the price has been rejected in that area. Moreover, the Stochastic is also oversold on the daily TF and we will probably have a bearish cross on the stochastic in the next hour. Last 2 times that happened, on 3.11 and 9.12, SPELL had experienced a strong move down.
Considering SPELL is up 350% in the last 3 weeks, we can expect a pullback to happen.
We can expect a pullback near the $0.019 area. From there, if the support holds, we might see a bounce again. If the support fails, $0.014 zone is the next support.
SPELL - a young project of high expectations listed everywhereAbracadabra.money is a lending platform that allows users to borrow funds using Interest Bearing Tokens as collateral.
SPELL is its token, used for incentivaztion as well as voting right when staked.
There is not much TA to do on this chart. I'm posting it because I watched it last month and forgot about it until I see Coinbase Pro listing announcement.
I didn't buy it on time but I want to do it now even more since it dropped heavily like all crypto market.
On market since August. Already 1 Billion M.Cap.
Listed on: FTX, Poloniex, ByBit, Coinbase Pro (today announced), a lot of DEX. Binance and others are just matter of time.
I will be very happy if I manage to get it at 0.10$. If it breaks 0.14-0.15$ resistance and turn it into support, I will add my 0.10$ allocation if it don't retrace to it before.
0.195$ level and Anchored VWAP I see as some kind of resistance but once momentum kicks in I don't thinks they will cause any problem.
It sounds like little FOMO and 1 Billion M.Cap is a lot for few months old project, but I'm ready to take that risk here.
Spell 🚀🚀🚀🚀Well, i took some of my time to look into Spell, and analysis it graphs, i used ALMA, VPVR, Support and resistance to make that analysis.
Well, at 2 am, Spell went down about -20%, reaching the support as we can see in the only red on the left (Also, the ALMA is representing an Support), as we can see, the VPVR is pretty low an low market interest in the area of the Support.) Well, i think that was an little bit of Market manipulation because the inauguration of ICE, probably Spell will go to the moon soon.