Spell Token Price Prediction

Spell Token Price Prediction: Market Analysis and Opinions

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May 16, 2022
8 min reading time

Unless you have been living under a rock for the last three years, you have definitely had the rise of DeFi, the subject matter in this Spell Token price prediction. Spell Tokens showcase traction from the beginning against a formidable headwind: older competition.

This innovative, fast-paced is currently historically cheap and ripe for the picking by opportunistic traders pushing for a bullish SPELL price prediction. Despite the token being taken to the woodshed, the general market sentiment is that Spell Token price prediction 2030 remains intact. 

Spell Token Price Prediction | Introduction

When making this SPELL price prediction, SPELL crypto was trading at $0.001271, according to data available on CoinStats. The token presents a perfect mix of stability, risk, and promise with a market cap of up to $114.7M, fully diluted to nearly $500 million. 

Spell Token projects much promise. Investors can confidently scoop these tokens and never sell them – the beauty of it is that it is a token that pays dividends through its yield farming operations, which makes it the perfect tool for income-oriented investors. The start is quickly shaping up to be a significant contender in DeFi. 

It checks all the appropriate boxes as a discounted growth token to buy now and hold forever. Moreover, the ever-expanding world of DeFi makes a case for a bullish Spell Token price prediction 2030, given that SPELL crypto occupies a prime position to capitalize on the push to disrupt the finance industry. 

Spell Token Price Prediction: Technical Analysis

Making a case for Spell Token price prediction 2030 under the current condition is not easy since the token is deeply discounted. Nevertheless, it is begging to be bought by investors if they can spot opportunities for strength and weakness. Here is a summary of the price action: 

MonthOpen PriceClosing PriceMonth High
April 2022$0.004306$0.003014$0.006441
March 2022$0.004384$0.004305$0.005078
February 2022$0.007266$0.004385$0.008104
January 2022$0.023555$0.007265$0.025269
December 2021$0.013408$0.023602$0.027776
November 2021$0.029274$0.013409$0.075148
October 2021$0.003537$0.029269$0.030247

While traders might be leaning for a bullish SPELL price prediction, they must be aware of a resistance cluster hovering above the token that is threatening its future. Moreover, SPELL’s price recovery from its January 1st price after an 88.82% crash seems possible for a token that had at one time jumped 87.03% in a single trading day. 

However, rejection from this resistance cluster at roughly $0.004460 could deal a major blow to the SPELL Token, sending it crashing by 97.53% to test its support foothold at around $0.001000. On a bullish note, a daily candlestick close above this resistance level could invalidate the bearish outlook.

Spell Token Price Prediction
Source: TradingView

For the time being, Spell Token looks heading for a relief rally as it undergoes a massive sell-off that kicked off the New Year celebrations. However, this optimistic price action is likely a temporary occurrence given the negative outlook of the broader cryptocurrency market and the technical position at its current position. 

Spell Token has not seen a bearish breaker over six weekly candlesticks and, following the last one, saw the cryptocurrency recover losses in its 86.04% recovery rally. The latter is a typical formation after a retest of a demand zone, a region that SPELL is currently heading for with the potential of compromising the overhead barrier. 

For spell price prediction, the points of interest are $0.002145 to $0.003175. This level has played the role of bearish breaker over 80 candlesticks, keeping SPELL from testing lower levels for the better part of the bear market. Therefore, compromising this level could have a devastating effect.

Spell Price Prediction
Source: TradingView

Despite the overall bearish outlook, SPELL seems to be fairing well trading within this demand structure. However, there is also a price inefficiency from $0.002978 to $0.004460, where there is a good chance SPELL could drop lower after the relief rally here. 

Spell Price Prediction: Technical Conclusion

The tough hurdle at $0.004460 also makes it hard for bullish participants to slip past it and move SPELL price prediction higher. As such, market participants should watch the quick turnaround in SPELL price as it cashes to $0.002145 and lower by 30% to build up enough momentum to challenge the resistance barrier at $0.004460. 

This short-term spell price prediction can become more permanent if it can convert this barrier into a support pillar. However, a seven-day candlestick close below $0.002145 will invalidate the bullish thesis, opening the path to propel SPELL lower and retesting a demand zone at $0.001000. 

Spell Token Price Prediction: Market Opinions

Cryptocurrency market participants have adopted a bearish outlook in solidarity for a long time now. However, some market-beating spell price prediction outlooks have helped lift the mood of holders. Nevertheless, the window of opportunity is not entirely lost for sidelined investors according to these predictions: 

Spell Token Price Forecast for May – June

TradingBeasts

TradingBeasts SPELL price prediction sees excellent risk of losing its footing, but projects that spell will remains resilient at $0.003405. While undergoing a correction, this Spell Token price forecast for May – June sees traders retreating to $0.002894 to collect liquidity for $0.0034.

CoinArbitrage

CoinArbitrage predicts that the Spell Token could fall under the bearish pressure but manage to keep its composure to break the bearish forces at $0.001185. Even though the forecast still spells trouble for the token, the long-term outlook is optimistic despite the Spell Token price forecast for May – June. 

Spell Token Price for the Rest of the Year

WalletInvestor

WalletInvestor Spell Token price prediction sees the token falling on its own sword on mixed sentiment to $0.000176. A move below the current support level could deny Spell Token the needed catalyst to spark a move to higher price levels, leaving the holder no options but to make exits.

DigitalCoin

DigitalCoin‘s outlook on Spell Token is underpinned by the resilience of the support footing at $0.00313. If the monthly candlestick holds above this support level, this Spell Token price for the rest of the year will be left with a 15% upside potential capable of bursting through $0.00361 within the year. 

Spell Token Price Prediction for the Next Year

PricePrediction.net

PricePrediction Spell Token price prediction 2030 shows the token has an opportunity to rebound to $0.17. Timing their buy-in to capitalize on this Spell Token price prediction for the next year at $0.008 will see investors make double gains after waiting on confirmation at $0.005 in 2022.

Gov.Capital

Gov.Capital projects the bears persisting in their assault of the support pillar to devalue the Spell Token to $0. However, a failed bullish breakout at the resistance barrier and failure of the bearish breaker could see this Spell Token price prediction for the next year materialize as priorities realign. 

Cryptocurrency Influencers and Experts

Saver0 sees green alerts flashing as the SPELL token keeps its cool above the support floor and presents a relief rally to recover at least half of the value lost in the last two months. The spell price prediction returns to the $0.013 level previously tested in the bull market of 2021. 

CryptoWhale100Billion looks up to a bullish come back with a vengeance as the risk of another downturn could fade away in the coming weeks. In this scenario, the SPELL token will be up for a 90% value increase, where the upside potential will be capped at $0.01, leaving the window of opportunity wide open for the next month. 

Latest News and Happenings Concerning Spell Token

Spell Token is associated with abracadabra.money, which is looking to unlock the potential of NFTs by leveraging the token to increase the value creation and growth of its applications. As the NFT market experiences growth and the uptake of its products by celebrities, it would be interesting to see its uptake influence SPELL Token price prediction. 

In the meantime, SPELL Token aims to take its yield farming applications a step forward toward the democratization of finance away from the traditional providers. That means an investor can expect to see growth in value proposition with the development of the DeFi sector.

Related articles: Gala Price Prediction | GoChain Price Prediction | Harvest Finance Price Prediction

Spell Token Price Prediction: The Verdict

This DeFi token could win big from a market that is increasingly leaning towards real-world use cases. Spell Token delivers innovative financial products that challenge the status quo in finance, thereby explaining the bullish Spell Token price prediction in the face of a bear market. 

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