1 SBD = $6.748 USD -- Will It Bounce Back Up?
(Charts by TradingView)
From early August to early September, the SBD alligator rapidly rose to over $8. However, it suddenly corrected, dropping to below $6, but then rose again.
On the other hand, the MACD (Moving Average Convergence Divergence) oscillator seems to be in a bearish position. This implies that the price of this asset is falling.
On the other hand, the Stochastic RSI (Relative Strength Index) oscillator seems to have started moving from overbought territory to neutral territory. This indicates that the market price, which was originally lower than the intrinsic price, is starting to approach it.
And in the graph below, we can see that the initially rising price of Bitcoin has suddenly corrected significantly, but is now recovering rapidly. And usually, the ups and downs of the bitcoin price pulls the prices of other altcoins.
At this point, the alligator's mouth, which had originally opened downward, seems to have begun to close. Is it really going to sleep, or will it bounce back up?
Let's continue following the adventure of this SBD alligator.
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