SLP is a very great token to trade. We have made many idea on SLP in the past, the majority of which were correct. Today we have another idea.
SLP is in a strong downtrend and many people are scared because there is WAY too much SLP being minted every single day. The bad news is, it should go lower. It can reach as low as 0.13 before the major CORRECTIVE movement upwards will truly begin. This movement is expected to take price all the way back up to around 0.30, and it's notable that the major movements will not happen until the exact end of this movement, where volatility should expect to increase dramatically as they announce the battles V2 launch. In the grander scheme, this entire move is a fool's rally, but we can ride it while it lasts before the next leg down. That comes much later.
It seems that Sky Mavis is going to reduce the breeding fee to a flat PERCENTAGE of the breeding cost, probably between 20-40%. This will allow for the SLP rally to begin, as it brings back the bullish sentiment for investors PLUS it fixes the mint VS burrn which is currently driving the rally downwards. The team has already said they will fix this in 14 days of the last patch, which came on 8/10/21. So we know that SLP will likely cease to fall on 8/24/21, 14 days after this. They want to ""Wait and see the effects"" even though we ALREADY know that the last change reducing the AXS fee by only 50% while the price doubled, did NOT help at ALL!
How do we know that Battles V2 will come on this exact date?? October 31st is marked because in the past the team likes to do events on special holidays. This is further confirmed because the official axie infinity Twitter has a BAT in their name. What does a bat mean? We think, it can only mean halloween!! Even more shockingly, and you should check this for yourself because it absolutely blew my mind, the 0.618 time extension of the entire move prior is ALMOST EXACTLY on halloween. So the level of confluence says that there is very very high significance on this day, and the volatility will simply be through the roof if they drop battles V2. For examples of what happens when major news drops, look at the big candle to the left? The biggest one. That's when they announced Ronin. It could even decide to test the all time high, that's how crazy this day might get. Be ready.
SLP is in a strong downtrend and many people are scared because there is WAY too much SLP being minted every single day. The bad news is, it should go lower. It can reach as low as 0.13 before the major CORRECTIVE movement upwards will truly begin. This movement is expected to take price all the way back up to around 0.30, and it's notable that the major movements will not happen until the exact end of this movement, where volatility should expect to increase dramatically as they announce the battles V2 launch. In the grander scheme, this entire move is a fool's rally, but we can ride it while it lasts before the next leg down. That comes much later.
It seems that Sky Mavis is going to reduce the breeding fee to a flat PERCENTAGE of the breeding cost, probably between 20-40%. This will allow for the SLP rally to begin, as it brings back the bullish sentiment for investors PLUS it fixes the mint VS burrn which is currently driving the rally downwards. The team has already said they will fix this in 14 days of the last patch, which came on 8/10/21. So we know that SLP will likely cease to fall on 8/24/21, 14 days after this. They want to ""Wait and see the effects"" even though we ALREADY know that the last change reducing the AXS fee by only 50% while the price doubled, did NOT help at ALL!
How do we know that Battles V2 will come on this exact date?? October 31st is marked because in the past the team likes to do events on special holidays. This is further confirmed because the official axie infinity Twitter has a BAT in their name. What does a bat mean? We think, it can only mean halloween!! Even more shockingly, and you should check this for yourself because it absolutely blew my mind, the 0.618 time extension of the entire move prior is ALMOST EXACTLY on halloween. So the level of confluence says that there is very very high significance on this day, and the volatility will simply be through the roof if they drop battles V2. For examples of what happens when major news drops, look at the big candle to the left? The biggest one. That's when they announced Ronin. It could even decide to test the all time high, that's how crazy this day might get. Be ready.
Kommentera:
Please make sure to like... this idea took some time to make
Kommentera:
We will try to update the idea as we come up on the milestones.
Kommentera:
We are also sharing another alternated version of this chart. This might actually be a more plausable chart for now, so we will watch it.
Kommentera:
Kommentera:
The case for this count is that they will NOT fix the oversupply of SLP with the patch, but rather investors will be foolish and think that they did, causing a correction to the upside ultimately leading to another fall to as low as 10 cents ending on halloween.