Good morning Splinterfriends!
Let's take a quick look at how the $SPS token has been performing. We will start with the overview, then zoom in to see how the token has performed over shorter timeframes.
As always I will end with my hopes, dreams and guesses as to where it will go!
Here is the "All Time Chart", using a Weekly Candle...
There are a few positive things I'd like to point out though!
A. Returning to the ATH would be an insane gain for most of us who stuck around
B. The RSI isn't as flat as the Price so hopefully that will reveal something as we zoom in
C. It looks as if we are in an uptrend but it's hard to tell
The first Candle is from July of 2021, so let's zoom in a bit and see how it looks over the past 2 Years.
Well... it looks exactly like one would expect during a Bear Market... Solid Downtrend.
Lower Highs... Lower Lows... yuck. Here is that chart, with Trend Lines:
Time to zoom in to see the One Year performance:
This... is still just an ugly chart :(
As you can see it peaked back in Dec of '23 and let me tell you - the community was RABID with excitement!! There was so much hype!! A little positive movement and we went NUTS!!!
Then, a drop... a bounce... and buddy let me say that bounce... We were MOONBOUND!! Except not.
We have been in steady decline since March and it appears we printed a Bottom on Monday, Aug 5th 2024... but only time will tell.
However... with the broader Crypto markets making positive movement lately... Hopium returns...
In closing, I show you the final chart - the Price Action since March... which is basically acting like the scene from Aliens where the Marines are heading down to LV426...
As you can see, from the "Bottom" of Aug 5th we have Printed some "Higher Lows" on the Daily Chart... and hopefully, with everything the Team has been doing, paired with what the markets are doing... this will turn into a decent Uptrend.
We have some hurdles to overcome... but perhaps... maybe... JUST MAYBE... we finally... FINALLY... found the Bottom... then again...
Here's to the future and here's to everyone growing their $SPS Bag!!
That's all I have for you today folks!! Thank you for reading and I would LOVE for you to join me in game!!
Naturally, after everything leading up to this moment, I do think Splinterlands and Soulkeep are some of the BEST web3 games out there!
They bring the #play2earn feature to the forefront of development as well as many opportunities for people to earn rewards - whether Player or Investor!!
If you're interested in the future of gaming, it's worth checking out!
You can sign up here: Splinterlands
Cheers 🍻,
- CaptainDingus
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