by Seth Parker on August 30th, 2018

Salt Analysis – Oh boy, that is bad

The last piece of the day is about Salt. This coin, was previously mentioned on the 18th of June, when the price was around 1.13 USD. Our outlook was very negative:

“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. „

To put that in a big picture. At the beginning of the year, the price was on the 18 USD. Now, as we speak, the Salt costs 0.57 USD. Can You see this? That is just amazing and perfectly shows the scheme and the scale of the bubble. Today, we keep our negative sentiment. The buyers tried a small reversal but they were unsuccessful. Yes, they even broke the down trendline (pink) but at the current conditions, it means nothing.

Salt Chart

Most recently, the price tested the 0.77 USD resistance. Test resulted with a bearish doji candle. After this bounce, today, we are down almost 10%. Salt is one of the worst cryptocurrencies on the market so my honest opinion is to stay away from this instrument.

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.

More content by Seth Parker

Comments (0 comment(s))