SPELL Coin, can we still hop on this wave? Professional breakdown is here! 🔥
A fan asked me: Is SPELL really worth it? Let me share my understanding of this coin.
1️⃣ Long-established altcoin with a stable background
SPELL is an established DeFi project backed by Abracadabra Money, with a real user ecosystem, not just a pure air coin. After a long period of consolidation, the chips are clean, and there is little overhead selling pressure, making it easier to rise.
2️⃣ Sufficient consolidation time, clear bottom accumulation
From the weekly chart, SPELL has been consolidating at the bottom for over six months, with trading volume gently increasing at low levels, indicating that the main players are quietly accumulating. This kind of pattern often signals a potential start.
3️⃣ Low market cap, highly controlled
SPELL currently has a low market cap, belonging to small-cap coins, making it easy to control. Based on the recent explosive rise, there are clear signs of main player control, and the rise has a well-planned rhythm.
4️⃣ Only suitable for swing trading
SPELL is not suitable for long-term holding but is a typical swing coin. The main players prefer quick in-and-out trading, capturing the rhythm, buying low and selling high, with very considerable profit margins.
Zizi's suggestion: Beginners are not advised to chase high, but friends who understand the technology and can read the charts can look for pullback opportunities to participate with light positions, strictly set stop-losses, and be quick in and out!
