Most people will say $SPELL is pumping because it's cheap.
I think it's a little more than that.
DeFi has quietly started seeing fresh rotation, and SPELL is one of the older names benefiting from that flow. The problem is the project still lacks a major new catalyst. Without stronger ecosystem growth, price will need market sentiment to keep carrying the move.
The 4H trend has finally broken its long downtrend and reclaimed the key support around $0.000100. On the 15M, buyers are holding higher lows while volume stays elevated. That's usually the setup you want to see before another attempt at resistance.
Strategy
• Entry: Break and hold above $0.000130
I'd rather pay more after confirmation than get trapped below resistance.
• Stop Loss: $0.000112
A move back below this area would weaken the breakout.
• TP1: $0.000145
• TP2: $0.000170
If SPELL can't clear the recent high, I'll simply wait. Good trends usually give a second chance, bad ones only reward people who FOMO.
I think it's a little more than that.
DeFi has quietly started seeing fresh rotation, and SPELL is one of the older names benefiting from that flow. The problem is the project still lacks a major new catalyst. Without stronger ecosystem growth, price will need market sentiment to keep carrying the move.
The 4H trend has finally broken its long downtrend and reclaimed the key support around $0.000100. On the 15M, buyers are holding higher lows while volume stays elevated. That's usually the setup you want to see before another attempt at resistance.
Strategy
• Entry: Break and hold above $0.000130
I'd rather pay more after confirmation than get trapped below resistance.
• Stop Loss: $0.000112
A move back below this area would weaken the breakout.
• TP1: $0.000145
• TP2: $0.000170
If SPELL can't clear the recent high, I'll simply wait. Good trends usually give a second chance, bad ones only reward people who FOMO.