Analysis of the price movement of the SALT / BTC pair

Analysis of the price movement of the SALT / BTC pair

The bullish sentiment in the SALT / BTC pair began to dominate the trades on December 21 last year, which resulted in overcoming the resistance line at 0.0006. A week later the pair added 105% and on December 29 SALT / Bitcoin cost 0.001232. Such a rapid growth not only made it possible to make good money on short-term investments, but also forced traders to make positive forecasts of the 2018 crypto currency.

In early 2018, the pair could not withstand sales pressure and rebounded to 0.000606. Traders began to feel the upper low, which allowed the SALT / BTC on January 8 to return to around 0.001244. However, closer to the end of the session on January 8, there was a rollback – 0.000955. The market received a signal that bulls can not hold their positions. Beginning from mid-January, the pair steadily lost all new support lines.

Looking at the market situation in mid-March, the technical indicators indicate a false loss of support level of 0.00032 by the SALT / BTC pair. Bulls quite actively began to behave in the market on March 21. Yesterday, the trading volume amounted to a very decent 1.704 million units of SALT. Such volumes are prepared that the bulls will keep the level. And the pair never fell below the level of today's support.

It is recommended to enter the market at the present level. We expect SALT / Bitcoin to maintain 0.00032 support at the first stage and move smoothly towards the desired value of 0.0006 within a month.

Let's look at the chart of the SALT / BTC pair on the well-known Binance exchange:

It can be interesting:  Major crypto-currencies as of March 22, 2013

Now SALT / Bitcoin is trading at the level of 0.000318

Our strategy:

Buy: current support level;

The main objective: the mark is 0.0006;

Quit: 0.0003 .








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