Update on the analysis of the $SQR token [14.03]

3월 14일

Well, today is March 14th, and based on my latest analysis, we're witnessing a slight decrease in volumes, indicating an accumulation zone, but this does not diminish market interest.

Previously, we navigated through an ascending triangle, and the price reached a mark of $0.70 for 1 SQR token. My profit-taking goal was set at $0.75, yet fell slightly short of this target.

Technical Analysis Insight

We've tested our ascending triangle from top to bottom and are moving forward confidently, albeit with slightly reduced volumes. From a technical analysis standpoint, everything suggests that the SQR token is confidently heading towards the $1 mark for 1 SQR token.

Furthermore, I'd like to highlight that the number of SQR tokens locked by the company at Magic Store is increasing daily, which also stimulates the market to move upwards, as the number of SQR token holders is growing every day.

My Recommendation:

After a pullback to the approximate price of $0.55, then consider taking a long position and holding it to a take-profit of $1 per SQR token. In my opinion, the $1 price will be reached approximately in 2-3 months.

Recently, the price exited its previous triangle and has now formed a new triangular formation, from which it's expected to break out soon. The anticipated price is $0.75 per token.