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W Formation on SPS Chart? Double Dip May be Completed! by chorock

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hive-167922 · @chorock ·
$14.61
W Formation on SPS Chart? Double Dip May be Completed!
SPS price seems trying to make double dip. I shared a post a few days go [SPS Price is on Great Support Line - Time to Pick Up?](https://leofinance.io/@chorock/sps-price-is-on-great-support-line-time-to-pick-up) and said that I might be the time to pick up SPS above 0.21 USD which is great support level for SPS price...


There are a few signals that show us it may be the time for SPS turn back. If double dip has been completed...


![Ekran Resmi 20210916 22.50.30.png](https://images.hive.blog/DQmTkNV1G8DmFAUoUKT2119hsg4uibvwNFdW2k4BDQSLH1h/Ekran%20Resmi%202021-09-16%2022.50.30.png)

> In technical analysis, a price trend characterized by a sharp fall, then a sharp rise, then a second sharp fall, and finally a second sharp rise. It is called a W formation because the series of rises and falls vaguely looks like the letter W. Technical analysts may consider a W formation a buy signal if the second sharp rises outpaces the two previous price highs.

As I said there are a few signals on indicators...

**Fisher Transform:**

Here is daily chart of SPS and fisher indicator. I was waiting for turnback and It has been turned back! 

![Ekran Resmi 20210916 22.58.48.png](https://images.hive.blog/DQmQPnNWs4zWMbZgyQ7XFxkTk9gUH1TopRBnekb8bmuEr9z/Ekran%20Resmi%202021-09-16%2022.58.48.png)

**MACD**
It is most important signal that is not completed for turn back. We need a few days to see what will happen on MACD indicator...

![Ekran Resmi 20210916 23.00.27.png](https://images.hive.blog/DQmcJGzTfeTkveNFDdDSeZiLjK27em7rWrt1cYi8syE1oKG/Ekran%20Resmi%202021-09-16%2023.00.27.png)

**Resistance & 8-Day MA**

0,2386 USD is 8-Day MA and SPS need to close above...
0,21 USD is great resistance and will be crossed down trend line a few days later...

![Ekran Resmi 20210916 23.03.31.png](https://images.hive.blog/DQmRYcxTnfSYP9aS8Qvzkciet5Z3XH7SXA3gGa3TAqC8u1F/Ekran%20Resmi%202021-09-16%2023.03.31.png)

**Volume**

Volume is decreasing day by day and crypto traders are not interested in SPS...

But I noticed something that APR going down linear day by day.. It may be a signal for someone picking up SPS and staking them...

![Ekran Resmi 20210916 23.08.12.png](https://images.hive.blog/DQmdS6X7bRW5UrMFdBsqSi1VxN9vaPsso6pEF87MCwc89mR/Ekran%20Resmi%202021-09-16%2023.08.12.png)

It is so early time to think about SPS pump but If SPS integrate Splinterlands game economy, volume will increase and we can see SPS price up.

Keep calm and hold it...


Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@chorock/w-formation-on-sps-chart-double-dip-may-be-completed)
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@coininstant ·
$0.36
Looks like it, to the moon!
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@hivebuzz · 
Congratulations @chorock! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@chorock/upvotes.png?202109171546"></td><td>You distributed more than 43000 upvotes.<br>Your next target is to reach 44000 upvotes.</td></tr>
</table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@chorock) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>


To support your work, I also upvoted your post!


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@pixresteemer · 
<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 74 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-73-and-start-week-74) just started...you can now check the winners of the previous week!</center><center>!LUV</center><center><sub>12</sub></center>
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