Smooth Love Potion Price Prediction 2021 – Will SLP Hit $0.5 Soon?

Smooth Love Potion Price Prediction 2021 - Will SLP Hit $0.5 Soon?
  • Bullish SLP price prediction ranges from $0.23 to $0.35.
  • The SLP price might also reach $0.5.
  • SLP bearish market price prediction for 2021 is $0.14.

In SLP price prediction 2021, we use statistics, price patterns, ADX, and much other information about SLP to analyze the future movement of the cryptocurrency

Small Love Potion (SLP) tokens are earned by playing the Axie Infinity game. SLP are ERC-20 tokens, and they can be used to breed new digital pets that known as Axies. This crypto asset serves as a replacement for experience points. It is a unique cryptocurrency because of how it has become one of the few in-game tokens to be listed by Binance in its innovation zone.

Current Market Status of Smooth Love Potion (SLP)

According to Coingecko, the price of SLP is $0.1974 with a 24-hour trading volume of $320,649,437 at the time of writing. However, SLP spiked to 14.32% in the last 24 hours.

Moreover, SLP has a circulating supply of 900,320,691.00 SLP coins. Currently, SLP trades in cryptocurrency exchanges such as  Binance, Tokocrypto, FTX, Gate.io, and KuCoin.

Smooth Love Potion (SLP) Price Prediction 2021

Smooth Love Potion (SLP) holds the 240th position on CoinGecko right now. SLP price prediction 2021 is explained below with a 4-hour time frame. 

SLP/USDT Falling Wedge Pattern (Source: TradingView)

The chart shows the Falling Wedge pattern. The falling wedge pattern occurs when the price is moving in an overall bullish trend before the price action corrects lower. This pattern begins wide at the top and contracts as prices move lower. A falling wedge pattern, designed by two converging trend lines when the stock’s price has been falling for a certain period. If a falling wedge appears during a downward shift of momentum in the market, it considered a reversal pattern

In the hourly time frame chart, the SLP can reach $0.42 if the bull trend continues. Or else, if the price of the SLP breaks the resistance level of $0.34, it will fall to the next support level at $0.16. So, the trend of the SLP is based on the breakout.

Smooth Love Potion (SLP) Support and Resistance Level

The below chart shows the support and resistance level of Smooth Love Potion (SLP). 

SLP/USDT Support and Resistance Level (Source: TradingView)

The above chart shows that the following are the resistance and support levels of SLP.

  • Resistance Level 1 – $0.23
  • Resistance Level 2 – $0.28
  • Resistance Level 3 – $0.35
  • Support Level 1 – $0.19
  • Support Level 2 – $0.16
  • Support Level 3 – $0.14

The chart shows the bullish performance of SLP over the previous month. However, this trend might continue to reach a resistance level at $0.35 soon. On the contrary, if the trend, reversed then SLP might fall to $0.14 presenting a bearish signal.

Smooth Love Potion (SLP) Average Directional Index (ADX)

Let us now look at SLP’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

SLP/USDT ADX (Source: Trading View)

The above chart represents the ADX of SLP, which is in the range of 42 indicating a strong trend. 

Conclusion

The SLP is one of the cryptos which is great for long-term investment. In addition, SLP price prediction is bullish for the long term. It has a good chance of reaching $0.35 by the end of this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the SLP ecosystem, the performance of SLP would rise reaching $0.35 very soon. But, it might also reach $0.5 if the investors believe that SLP is a good investment in 2021.

Disclaimer: The opinion expressed in this chart is solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their research before investing.

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