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Bullish Divergence on Serum – SRM Crypto Price Prediction July 2022

Bullish Divergence on Serum – SRM Crypto Price Prediction July 2022

Serum Crypto Falling Wedge Price Chart

Serum Crypto is forming some potentially bullish price action on the charts. We may soon see a powerful bullish reversal for Serum Crypto. Presently, Serum Crypto is trading with an extremely bullish falling wedge pattern – this is a bullish reversal pattern.

We also have the presence of a bullish divergence which could result in a strong impulse to the upside. Currently Serum Crypto is chopping around the $0.70 levels and has recently lost its $1 support level.

July might offer big returns for traders if we see a successful reversal from the falling wedge pattern and bullish divergence. Can we break back through $1?

Cryptoassets are a highly volatile unregulated investment product.

Serum Crypto Price Prediction 2022

What currently excites me on the charts for Serum Crypto is the forging bullish divergence on the relative strength index. This clearly stands out on the daily time frame of the charts and reflects that the bulls may soon be winning the battle.

We are yet to see the results of this price action and accumulation at lower ranges. We can see in the chart below that the previous bullish divergence offered returns of almost 100%, which is rather impressive.

If history and the same technical indicators can stimulate similar price actions we could speculate another impsulve wave or pump is on the way.

Serum Crypto Bullish Divergence

Serum Crypto Bullish Divergence – Daily Timeframe

Bullish Divergence

The above chart demonstrates that between January and March of 2022 a bullish divergence had formed. Shortly after, we saw an explosion in price and an increase of roughly 99.23%. We are now forming another bullish divergence on the charts and the accumulation has also lasted for around the same amount of time (2 months).

If we see a bullish reversal for Serum Crypto I would feel confident that we could bounce up to around $1.35 which is the first swing high of the falling wedge pattern. Should we see more continuation and the inception of a new uptrend, I would be looking at some larger targets such as the resistance of $2.37. This would be a take profit zone from the lower price levels we can take advantage of today.

According to Coinmarketcap Serum Crypto is ranked #129 amongst other cryptocurrencies and has a market capital of just $193 million. I believe this project could have scope for real long-term growth potential.

It is also worth noting that Serum Crypto only has 3% of the supply in circulation. Even if Serum Crypto did repossess its previous market capital all time high of $1.2b, achieving the same market capital now would result in a lower price as more coins are in circulation.

I would focus on the return on investment rather than the numerical value of this project. The current undervaluation phase could offer a great entry for new holders of Serum Crypto.

What is Serum Crypto?

Serum Crypto is a decentralized exchange, also known as a DEX. It’s an ecosystem that brings infallible speed and very low transaction costs to the lucrative realm of decentralized finance (DeFi).

The reason Serum Crypto is unique is that it is the only high-performant DEX that is designed based on a fully on-chain central limit order book and matching engine.

Serum Crypto has seen exponential growth since its launch and continues to expand and develop its protocol. Serum Crypto strives to create solutions for traditional DeFi platforms. For example the high gas costs and slow transaction speeds across Ethereum (it is known developers are limited by these problems).

Overall Serum Crypto helps rebalance these problems, covering liquidity issues, capital efficiency, centralization and more.

I’m also quite bullish due to the reputation and prospects of the founders of this project. Serum Crypto is an open source project which was created by a myriad of partners. This includes stakeholders from FTX, Alameda Research and the Solana Foundation.

With enough time, accumulation and exciting developments I think Serum Crypto will have a strong future in the cryptocurrency space and climb back through to being a top 100 crypto.

Cryptoassets are a highly volatile unregulated investment product.

Related

DeFi Coin (DEFC) – Undervalued Project

Our Rating

DEFC
  • Listed on Bitmart, Pancakeswap
  • Native Token of New DEX – defiswap.io
  • Up to 75% APY Staking
  • Whitepaper and DeFi Tutorials – deficoins.io
DEFC

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

The post Bullish Divergence on Serum – SRM Crypto Price Prediction July 2022 appeared first on Business 2 Community.

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