After an almost 5x that is to be expected! Currently SPS is trading at around 55 cents, down from a high of around 90 cents. However, I think this downward movement has probably reached its low point. Let's have a look at the chart:
One reason for this downturn is a natural reaction to a massive increase in price. Another reason is that the former ATH was not broken. This generally leads to a bigger rejection. However, with more than 40% down currently, we have probably reached the bottom. This makes especially sense, since there is still a big demand in SPS for the Chaos Legion presale as well as the still pretty good ~55% APR.
In another chart you can see SPS compared to AXS. Every coin goes through these corrective cycles and for AXS we saw more than a 50% drop at a similar stage in its price development. It is quite likely that SPS will follow a similar path like AXS which would mean a continued increase in price. Once we break the former ATH, we should easily reach into the 2$ range.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
⛅🌦🌧🌦🌧🌨☁🌩🌦⛅🌧☁🌤🌥🌪🌧🌨🌩⛅🌦☁🌤🌥🌤⛅🌤⛅🌦⛅
⛅🌦🌧🌦🌧🌨☁🌩🌦⛅🌧☁🌤🌥🌪🌧🌨🌩⛅🌦☁🌤🌥🌤⛅🌤⛅🌦⛅
