Faster,Cheaper & Powerful DeFi DEX (Serum Analysis)๐๐
โ๏ธHello Crypto community Welcome for introduction of another crypto project.
๐นRank ##162
SOLANA token / Market Cap:$$339,087,710
Circulating Supply: 133,231,781.00 SRM------------------ 1% /
Max Supply 10,161,000,000---------------------- ๐riskyโ
๐นHolders Statistics:
Top 10 Holders
81.94% ------------------ ๐riskyโ
๐ฐWHAT is Serum( SRM) ?
Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance (DeFi).
Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serumโs on-chain orderbook to share liquidity and power their trading features for institutional and retail users.
coinmarketcap-projectserum.com
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๐๐ TECHNICAL
As you can see on the WEEKILY timeframe for SRM/USDT , It is trading about $2.54 right now.
SRM has formed a double top pattern and it went down by mare than 80% . now it reached to support area ,and i expect a reaction for here , so if bulls start to buy here ,it can have a correction and rise to first resistance area in first step .although its movement depend on market sentiments , and also there a possibility to further fall even to lower support lines based on target of double top pattern.
๐resistance level: $5.2 -$5.8//$7.5-$8.33
โ๏ธsupport levels: $1.5- $2///1 $/// 0.78$
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๐This analysis is my personal opinion ,not a financial advice ,so do your own research.
๐ if you're a fan of my analyses PLZ follow me ,give a big thumbs ๐ and drop comment ๐ฏ๐ญ
๐นRank ##162
SOLANA token / Market Cap:$$339,087,710
Circulating Supply: 133,231,781.00 SRM------------------ 1% /
Max Supply 10,161,000,000---------------------- ๐riskyโ
๐นHolders Statistics:
Top 10 Holders
81.94% ------------------ ๐riskyโ
๐ฐWHAT is Serum( SRM) ?
Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance (DeFi).
Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serumโs on-chain orderbook to share liquidity and power their trading features for institutional and retail users.
coinmarketcap-projectserum.com
------------------------------------------------------------------------
๐๐ TECHNICAL
As you can see on the WEEKILY timeframe for SRM/USDT , It is trading about $2.54 right now.
SRM has formed a double top pattern and it went down by mare than 80% . now it reached to support area ,and i expect a reaction for here , so if bulls start to buy here ,it can have a correction and rise to first resistance area in first step .although its movement depend on market sentiments , and also there a possibility to further fall even to lower support lines based on target of double top pattern.
๐resistance level: $5.2 -$5.8//$7.5-$8.33
โ๏ธsupport levels: $1.5- $2///1 $/// 0.78$
--------------------------------------------------------------------------------------------------------------------
๐This analysis is my personal opinion ,not a financial advice ,so do your own research.
๐ if you're a fan of my analyses PLZ follow me ,give a big thumbs ๐ and drop comment ๐ฏ๐ญ
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