Crypto Analysis | SPS Consolidating

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It's time for another update on SPS

My last post was 3 weeks ago and it has aged pretty well. Back then I was arguing that SPS had reached it's lows and was on a gradual ascent again. This was visualized in an arch which showed that the lows were becoming less deep and starting to flatten off.

The same trend can also be visualized by drawing straight lines connecting the bottoms. This shows that the bottoms are not on the previous line, but on one "step" up. On this chart you can see that I predicted a low of around 1.6 cents.

Update

The charts now look rather supportive of this idea. SPS is consolidating. The arch that I drew in is holding nicely as can be seen here:

The other chart with the trend lines has held as well. The latest trend line showing a the lastest low has not been invalidated:

Conclusion

Looking at the last chart, it is clear that SPS is on the verge of a breakout of the top resistance trend line. This has always led to several weeks of upward movement and I would once again expect the same. Only that this time SPS might actually be on a sustainable upward trend. The direction this could be unfolding is seen in the green channel. Since SPS staking is going live probably this month it will also put bzying pressure/add utility to SPS. This really could be a great chance to get some stake as it could only become more valuable once SPS will get burned for DEC.

 

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