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Time For Another SPS Update
After almost 2 months, let's have a look. I'll start with a chart that I shared 6 months ago. It has aged quite well:
Now in Q1 of 2025 it's clear that price wasn't able to break out at around 1 cents, but it also didn't completely crash back down like indicated in the chart. Nevertheless, the basic outline was spot on:
Outlook
For now the support at 0.06 cents has proven enough to keep price afloat. For a third time it is now trying to overcome the strong resistance indicated with the lower red trend line. I am optimistic that it will be able to overcome it this time, mainly due to the fundamentals that are happening at the moment.
- SPS validator nodes coming online
- LAND 1.75
- Conclave Arcana release
It's clear that we are far away from the $0.1, $0.5 and not even speaking of the $1 targets. Current support is now indicating a 1 cent support for the end of the year... Not very impressive. However, that would be the support. Price could very well blast higher in the coming months with the most important resistances at 1 cent and 1.7 cents (red lines).
A more bullish outlook could look something like this:
It's unclear to me how much of a resistance or pull back we will see at around 1.7 cents. If price pushes higher, the next resistance would be at around 4.5 cents. But for now we have to see if 1 cents can be overcome.
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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