Market Overview: SLPUSDT Daily Price Action Analysis

Summary
• SLPUSDT fell to $0.001739 on Bollinger Band support after a sharp 24-hour drop from $0.001898.
• Volume spiked at $0.001890–$0.001855 but failed to confirm a rebound, showing bearish momentum.
• RSI reached oversold territory near 30; price may test prior support at $0.00172.
• A bullish engulfing pattern near $0.001739 could hint at short-term reversal, though Fibonacci 61.8% remains key.
• 50-period MA turned bearish below price; MACD indicates divergence in selling pressure.

Market Overview

Smooth Love Potion (SLPUSDT) opened at $0.001821 on 2025-08-24 at 12:00 ET and hit a high of $0.001898 before closing at $0.001739 on 2025-08-25 at 12:00 ET. The 24-hour low was $0.00172. Total trading volume amounted to 245,368,047 and turnover reached $446,357, showing increased bearish participation as the price declined.

Structure & Formations

A sharp bearish trend emerged from $0.001898 to $0.001739, with key support forming around $0.00174–$0.00176 on the 15-minute chart. A notable bullish engulfing pattern emerged at the $0.001739–$0.001753 level, hinting at potential short-term stabilization. Earlier bearish momentum was confirmed by a long lower wick on the candle between $0.001890 and $0.001855, but it failed to trigger a meaningful rebound.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart turned bearish, trending below price action. Daily MAs (50/100/200) are also bearish, with the 50-period MA crossing below the 100-period MA—indicating worsening near-term sentiment. A potential test of the 50-period MA at $0.00175–$0.00177 could provide a critical bounce point for bulls.

MACD & RSI

The MACD line turned negative and remained below the signal line, with bearish divergence in selling volume. RSI has dipped into oversold territory near 30, suggesting exhaustion in the downside move. However, a strong reversal would require a break above $0.00175 to confirm momentum recovery.

Bollinger Bands

Price settled near the lower Bollinger Band at $0.001739–$0.001745, with the band width narrowing slightly—suggesting a potential increase in volatility. A break above the midline at $0.00176 or below the lower band could indicate a continuation of the current trend.

Volume & Turnover

Volume surged between $0.001890 and $0.001855, confirming bearish momentum, but dropped as price approached the $0.00174–$0.00176 range—pointing to a potential exhaustion in sellers. Turnover has decreased, which may indicate reduced participation or uncertainty in the market.

Fibonacci Retracements

The 61.8% Fibonacci retracement level at $0.00174 is currently acting as key support. A break below this could target the 78.6% level near $0.00172. On the 15-minute chart, the 38.2% level around $0.00175 is a potential retest area for buyers.

SLPUSDT may find near-term stability if it bounces off $0.001739 and holds above $0.00174, but risks further consolidation if the 61.8% support fails. Investors should monitor volume and RSI for signs of a reversal or deeper bearish extension.