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Spell Token / Wrapped Ether on Ethereum (0xb5De0C3753b6E1B4dBA616Db82767F17513E6d4E)

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SPELLWETH_B5DE0C trade ideas

Spell/ETH Chart - ETH Stalls and FTX PERPS settle volatilityFirst chart, so pretty quick and rudimentary explanation of what I'm thinking, but here goes. If we see BTC breakout and suck up bids of other majors, then only alts with momentum will be the ones with possible upward potential. No DeFi alt has more narrative and price momentum than SPELL imo. This chart is just visually what I'm thinking could happen during the BTC dom run, where ETH either stalls out or bleeds a little bit while SPELL picks back up after rebounding from the FTX short hedgers. I think we could see SPELL gain a bit more on the ETH pair over the next few weeks, and I'd be targeting somewhere along this trendline until I see ETH show some strength (if this plays out like I think in my head). After the huge upwards move, we've settled since then and formed a bit of pennant. I'd be betting on a breakout to the upside for various reasons, as I think this is pretty good consolidation territory, but the only downwards breakout I could imagine wouldn't be on the SPELL/USD pair, but when ETH starts outpacing it on the /ETH pair.
by CleanlyMurph
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.
by uDarkCrypto