A Look At The SALT Chart
Comment your opinion below:-)
If you would like me to take a look at any other coin in particular, let me know in the comments below and I'll try and see what I can work up:-)
- I'm torn on whether SALT is forming a Cup and Handle or Rounding Bottom. Let me know your thoughts below, there is tons of bright minds on Steemit, I'm looking forward to your responses:-)
- The RSI and MACD look like their finishing off a bearish move, looks like sideways(USD) to downward(BTC) movement could follow for a day or two
- The OBV is making an attempt to cover 0 but is still struggling to reach it, once it breaks this barrier I believe extremely bullish moves are to follow. My guess on why OBV is negative for so long: Tokens were sold at 0.25 to fund initial operations which SALT outlines in their whitepaper. With this, because tens of millions of tokens were sold at this price there was been a ton of selling action. In my opinion, this will halt once the platform is live and fully operational to all users. Let's keep in mind these "early investors" are more than likey chosen and close to the SALT team.
My Next Target?
HODL!!! I usually give targets for coins but with SALT I see the ceiling being extremely high and will hold until futher notice.
Upcoming News/Events to look out for:
- SALT Loan Platform lanch to all users(Currently select few for testing)
- SALT Debit/Credit card
- SALT turning into a POS coin with staking coming before years end
I'd stay away. When EMA crosses signal from the top of the uptrend people tend to ignore Williams%R levels. When %R levels are ignored, trend is everything and true price means nothing. Looking at your SALT charts, I would trade between 500 and 1000 sat keeping close eyes on Elder ray and Williams%R. If Elder is unable to make new highs and price finds new bottoms at the bottom of Williams%R I'd sit back and wait it on 500 sat.
Very useful for situations like these is Alligator study. Search it up and follow it strictly especially when price is coming back from retracal like here.
Awesome reply with tons of info, thanks for taking the time to provide your insight! It seems your new to Steemit and the content on your channel looks awesome! I'll resteem your posts to help you get started:-)
Cheers and welcome to Steemit!
Two days on Steem. Never felt in love with any project on web faster than this. Stuff like these make me feel rich inside. Thank you, you are the most kind.