In my publication yesterday, I talked about my concerns with the current state of SPS token and how it relates to buying the incoming Rift Watchers packs. Based on the comments, there seems to be a general consensus that despite the recent selling pressure that SPS is currently experiencing, the price of SPS token will experience a decent pump before Rift Watchers' sale begins.
The SPS one month chart above doesn't look so bad, as it is evident that the token price has been fairly consistent. The minor pump from late July to the spike around7-10 of August coincides with the listing on Huobi. After the listing, it has been downhill since.
I'm not much of a charter but if I were to guess, I'll say that simply based on the trend, we're probably heading back down to the 5 cents range again.
At the time of writing, SPS is trading at a tiny fraction below 7 cents and the price has been trending in the wrong direction.
My last SPS purchases at 7 cents have already started losing value in dollars but overall, I'm still in the green since I bought a fair bit of SPS at around 4-5 cents and the other chunk of my holding was from the airdrop.
In any case, the current price trend of SPS has to make you wonder when you will start buying . This is more important for people who intend to buy decent quantities of SPS tokens.
Anything above 1000 SPS tokens and these tiny variations of a few cents start to mean a bit more than "just cents".
All things being equal, I'll be buying anywhere between 5,0000-10,000 SPS tokens before the launch of Rift Watchers collection. This SPS will be kept liquid and waiting on the sidelines for the new collection of monsters to launch.
The issue for me is picking the right moment to start buying SPS token. When you think about it, SPS doesn't have a complicated trading pattern, so picking a moment will be easier.
Naturally, there's no such things as a "perfect" moment but if I were to speculate, I'd say that somewhere between 5-6 cents is a decent range.
Everyone expects SPS token to pump when Rift Watchers comes around but that won't be until next month, at least. We don't have specifics about when next month but considering august has 13 more days and then some days in September, the price of SPS will most likely keep trending lower.
I don't think we will drop to the 4 cents range before RW is launched but I expect $0.05-$0.06 range and anywhere in that range will be my trigger. Then again, all of that is also dependent on if something crazy happens in the crypto market because I seriously doubt there's any major Splinterlands news that will make SPS pump hard.
Recently, there has been the news about MLSPA and then Rift Watchers followed that but SPS has still not experienced any dramatic moves. In fact, despite the news, SPS price has continued dumping and this will persist until Rift Watchers comes around.
Another thing is I'm not expecting a major pump due to the launch of Rift Watchers. The best I can see SPS doing is 10 cents, and so if you buy in the 5-6 cents range, you will almost 2X the value of your SPS and this will enable you to buy more Rift Watcher packs.
The worst-case scenario is that SPS just gets back to 7-8 cents again, stays at that range throughout the RW sale and then drops back to the 5 cents range immediately after the sale ends.
Just as with everything else, time will tell and I really hope I'm wrong because I want a harder pump than 10 cents.
In any case, this is not financial advice. Always do your own research, and don't trade with funds you can't afford to lose.
