SPS price is going down day by day before Chaos Legion release... I shared a post a few days ago SPS Price Trying to be Above on Great Support said that 0,34 USD was important for SPS price..
It broke down and SPS touched great support zone 0,21 USD. I started to pick up discounted SPS from this level. There are a few signals to turn back of trend...
1- MACD indicator show us downtrend may be ended a few days later... MACD may turn back...
2- Fisher indicator says that Down trend may be ended tomorrow..
3- There are 6 red successive candle. We are close to green candle!
4- W formation may be shown on the chart. 0,21 USD is great support, double dip support zone...
I examined the movement of SPS when it first came out. It rose from the pre-sale price and made 0,21 USD for support level to go to above 1 USD...
The volume is quite low, as the SPS token is not yet actively used in the game but whales may be collecting SPS tokens at these levels.
APR is falling fast while stable supply is happening every day. This confirms my thesis above.
For the SPS token to react at these levels, important news needs to be released.
Although the number of new players is breaking records every day, users who started the game a few months ago are not happy with this situation.
I am an admin of unofficial Turkish Telegram community and read messages of new players, they are unhappy...
Since I am a former player, I think these situations can be opportunities and I collect SPS at these prices.
Here is also summary of Splinterlands AMA.
-SPS delegation has been designed and may be released soon
SPS earnings from ranked battles will be based more on your league, rather than rating
-Team wants to encourage building a more competitive deck and ranking higher
-More SPS use cases are definitely a priority once scaling is less of an issue
These are enough news for SPS token?