Thread by @JackNiewold

Some Monday Morning $SPELL Analysis for all my frogs:

(dubious speculation involved)

First of all? I think the bottom is in:

We held support at the $0.02 level, wicking down below it but with all daily closes above it.

And we didn't just 'test' support, we held it, fighting with two cents for 48 hours.

That's not necessary a bullish signal in itself, but we definitely established a short-term floor at $0.02.

Since then it's looked pretty nice, here's the hourly chart:

You can kind of see we're getting into a pattern of 'mini cycles' where there's a big run-up, then a retracement, then a run-up, then a retracement.

Here are the last three.

And hopefully, we're in the beginning of a fourth.

Some resistance levels we could get rejected from:
• $0.025 (historical resistance/support)
• $.034 (the 'held' top of last run up)
• Previous ATH? (different on different exchanges ($0.034-$0.038

If we do break that all-time high, we'll probably go higher:

Every past ATH has been accompanied by a push higher up.

Catalysts:
• $MIM replenishments are up which is good for protocol revenue
• Dashboard launch might get us some more clarity around protocol revenue
• Solana launch?

https://twitter.com/danielesesta/status/1458840978102665233?s=20

All in all, seems like it could be a good week for $SPELL, even better if @Walt_Crypto comes out of exile.

Wag Me to the ☀️?

Liked the thread? Go drop a like/RT on the first tweet, it'll help get the news out to more frogs. 🐸

https://twitter.com/JackNiewold/status/1460294154152382467?s=20