🔥
$SLP Bullish (strong breakout backed by whale pressure on shorts).
On the 1-hour timeframe,
$SLP has exploded upward from the 0.00085–0.00088 base to above 0.00101, printing a clean impulsive rally with strong momentum. Price has decisively broken prior resistance near 0.00095, flipping market structure bullish and confirming a trend shift in favor of buyers.
Recent kline action shows aggressive volume expansion on bullish candles, validating real demand behind the move. The vertical push and follow-through indicate momentum-driven buying rather than a weak bounce. Any near-term pause around current levels would be considered healthy consolidation, not distribution, as long as price holds above the breakout zone.
Capital Flow (Whales Insight):
Whale data shows a clear imbalance favoring shorts under pressure. A large portion of whale short positions are currently deep in loss, with significant unrealized negative PnL, while profitable long exposure remains smaller but efficient. This setup increases the probability of short covering and squeeze-driven continuation if price sustains above key support. Despite some net sell volume, price strength suggests shorts are being absorbed.
Entry long
$SLP : Best risk–reward is on a pullback toward the 0.00096–0.00098 support zone, which aligns with the prior breakout and intraday structure. Avoid chasing extended green candles.
Stop-Loss: Place below 0.00092, under the reclaimed structure to protect against a failed breakout.
Target Price
$SLP :
🎯 0.00105–0.00108 as the first resistance zone, followed by a potential extension toward 0.00115 if volume expands and shorts continue to unwind.
Trade
#slp here