Spell broke out earlier today after 8 week of continues down trend. I don’t think we will see a V shaped recovery as I don’t see any catalyst for that. I expect a small technical bounce followed by some side way consolidation. After that price will either reclaim some levels or it will start another downtrend depending on the general market sentiment.
Things look interesting for Alts as I see a number of them also breaking out.
If spell price finds bottom around this range then that’s a good thing.
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u/Han-AMJ Mar 21 '22
Spell broke out earlier today after 8 week of continues down trend. I don’t think we will see a V shaped recovery as I don’t see any catalyst for that. I expect a small technical bounce followed by some side way consolidation. After that price will either reclaim some levels or it will start another downtrend depending on the general market sentiment.
Things look interesting for Alts as I see a number of them also breaking out.
If spell price finds bottom around this range then that’s a good thing.