SPS price went down from 0.04 USD to 0.022 USD after Bitcoin price went down 48K to 38K.. It can be said price correction both SPS and Bitcoin. SPS price is trying to reverse after this price correction.
Here you can see daily chart of SPS. SPS was one of the best performer of 2023 bullish season. It went up 300%. After price correction SPS broke up downtrend line coming from the top of pump. After breaking up this downtrend line SPS price could not go up fast. It is still trying to reverse..
MACD Indicator is also reversed from the bottom! It is good signal to continue bullish trend.
Here you can see weekly chart of SPS. This is 5th week SPS price has 5 red candles. After too many green candles on weekly chart of SPS, we saw 5 red candles.
It may take time to reverse. When we look at fisher Indicator on weekly chart of SPS, it may take a few week to reverse..
It may be flag pattern on SPS price chart. I will share new analysis in a few days for this scenario.
We will see..