SALT - Is Salt Ready to Bounce from its All-Time Low?
Updated
I was reviewing some old charts and SALT/BTC caught my eye. SALT's price action recently did a 3x move after hitting an all-time low and broke through a major resistance trend that it had kept it down since May 2019. The price just bounced off the .781 Fib retracement level and is finding support on the MA200. There is hidden bullish divergence on the daily MACD and well as price support. This may be an indictation that we hit bottom and are finally ready to reverse course. This may be a great short-term scalp or a long entry for all hodlers.
Salt is 241x off its all-time high. Suffice to say that SALT has incurred its fair share of bad news regarding the SEC investigation into its ICO and its delisting from major exchanges like Binance and Bittrex. These factors have been truly devestating to its price and volume. Is this a dying crypto or the result of a very harsh crypto-winter in addition to negative press? Only time will tell. But the idea behind the project is solid and I am a fan of the founder, Erik Voorhees. He is one of the OGs of crypto and the founder of the very successful Shapeshift. If the US government were to shift its position on crypto and crypto-backed loans, SALT could be in line for a serious pump.
Salt is 241x off its all-time high. Suffice to say that SALT has incurred its fair share of bad news regarding the SEC investigation into its ICO and its delisting from major exchanges like Binance and Bittrex. These factors have been truly devestating to its price and volume. Is this a dying crypto or the result of a very harsh crypto-winter in addition to negative press? Only time will tell. But the idea behind the project is solid and I am a fan of the founder, Erik Voorhees. He is one of the OGs of crypto and the founder of the very successful Shapeshift. If the US government were to shift its position on crypto and crypto-backed loans, SALT could be in line for a serious pump.
Note
Note
Looking great, holding up really well against BTC which is pumping
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