Crypto Analysis | SPS Breakout

Good day Hiveians!

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SPS should be out of its corrective phase now and entering a new impulse wave

Last week we argued that a breakout should occur rather sooner than later. We also noted that the subwave on the right closely resembles the one on the left - a fractal, that once we look at seems to show a breakout potential.

We first saw a further decline to 38 cents before prices started moving upwards again. Price first tested the trend line and retracted somewhat before it breached it in a second attempt. As expected, price moved strongly upwards after that and is now at ~50 cents.

What can we expect now?

To me it seems that we could once again repeat a similar pattern to what we saw previously: an impulse wave beinging us to 1-2$. The variable here, however, is the airdrop which has put a selling pressuure on SPS. Nevertheless, we are in a bull market and I don't think that prices will stay at this range much longer.

As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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