Cryptocurrency
by Seth Parker on June 18, 2018

SALT Analysis – Free fall towards ZERO

The first piece of the day will be written about the SALT coin. It is not the first time that we write about this crypto. For the last time, we did that on the 11th of May. Back in that time, the price was on the 2,88 USD and we were just after the breakout of the important local support on the 3,3 USD. That gave us a bearish view on this coin and we stressed that out here:

„The closest target for the current downswing are the lows from the beginning of April, around the 1.8 USD. Chances that we will get there are relatively high, especially after today’s session, when the SALT is loosing almost 8%. „

SALT Chart

Traders needed only few days to reach this target. Well, we are not surprised. Currently, we are even lower than this. Salt is on the 1.13 and has no important supports ahead. What does it mean? Basically, from now on, we should see a free fall of this coin until we will reach zero. Salt is very close to become worthless. The bearish sentiment will be denied, when the price will come back above the green area but chances for that are very limited.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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