Today’s trading session will mark a third consecutive day that the Sologenic price dropped in the market. This is after the crypto previously rose by more than a hundred per cent within a span of two days. There is also a high chance of the current downward trend to continue for the next few days.
In the past few days, Sologenic has been gaining a lot of traction. On April 5, they announced that one of the most popular football players, Tevoh Chalobah, who plays for the Chelsea Football Club, had signed an account with them. The announcement was made on their official Twitter account, which resulted in a lot of traction on the cryptocurrency. This announcement coincided with the 26 per cent increase in the price of the crypto.
The last few days have seen Sologenic price increase by over 100 per cent. The move that started on April 4 saw the price jump by 27 per cent on April 4, followed by another jump of 25 per cent. After the exponential surge in prices of Sologenic, the prices have since dropped by 30 per cent. In today’s trading session, the prices are continuing with their downward move, losing about a percentage point.
Looking at the chart below, the price action of the last few days shows the prices increasingly becoming bearish. The last three consecutive days have also been very bearish, and based on the chart, there is a high likelihood of the bearish trend to continue. Based on the Chart, I expect the prices to continue dropping until they hit the $0.45. There is also a high possibility that the prices may fall below that price.
However, my long-term outlook is bullish. After the current price corrections, I expect the prices to start a new bullish trend. In addition, I expect at some point for the prices to rise based on the fact that the current downward trend is likely a correction.
This post was last modified on %s = human-readable time difference 15:00