Spell token Price Prediction: Why $0.002 Price Level is Possible

Since August 9, Spell token price has traded aggressively and continues to set new price highs. Today’s trading session is up by a percentage point, but that only paints a small picture of what has been happening. 

Spell Token Weekly Price Action

A week ago, Spell token price surged by 42 percent in the early hours of the trading session. However, the prices would later fall in the evening hours, which saw the crypto fall and close the markets with a gain of 23 percent. The surge was followed by market calmness, with Spell token closing the markets with a price gain on August 10 and 11. This was followed by a three consecutive bearish trend that resulted in a price drop of 10 percent. 

Yesterday, the strong and aggressive bullish trend resumed, with prices surging by 33 percent before retreating to close the session at 14 percent. In today’s trading session, the Spell token opened with a huge surge upwards, and at some point, it was up by 10 percent before coming down to the current 1 percent price gain for the day. 

Spell Token Price Prediction

Following the past week’s price action, we can see that the Spell token remains aggressively bullish. It is also clear that each time the prices surged by much, prices corrected before proceeding with the aggressive push to the upside.

Therefore, despite my expectation of a small price correction, I expect the prices to continue going up. There is a high likelihood that we may see prices trading above the $0.002 price level in the next few trading sessions. My analysis will only be invalidated if prices fall below yesterday’s opening price of $0.0014. 

Spell Token Daily Chart