SLP is moving in a Symmetrical Triangle pattern and on July 13 it made a False Break, which is a sign that a breakout from the pattern on the upper edge is very likely.
We can start accumulating SLP around $0.004 and wait for a strong rally at the end of July. The $0.006-0.0065 zone is the strongest resistance area that we need to pay special attention to. As long as it breaks through this zone, SLP will have very strong rallies.
However, if SLP loses the $0.004 zone and breaks the lower edge of this Symmetrical Triangle pattern, we can wait to buy it back at the $0.003 zone for a recovery and it can fall sharply to the $0.002 zone to end the grand downtrend there.
We can start accumulating SLP around $0.004 and wait for a strong rally at the end of July. The $0.006-0.0065 zone is the strongest resistance area that we need to pay special attention to. As long as it breaks through this zone, SLP will have very strong rallies.
However, if SLP loses the $0.004 zone and breaks the lower edge of this Symmetrical Triangle pattern, we can wait to buy it back at the $0.003 zone for a recovery and it can fall sharply to the $0.002 zone to end the grand downtrend there.