Phantasma (SOUL/USD) has fallen by over 40% against the highest level it had achieved in November after a huge rally. It looks like a healthy correction, especially after the 500% rally in recent months, which drove the price from $ 0.6 to almost $ 4 in just one month. Phantasma is a fully interoperable, decentralized, feature-rich blockchain. It features an innovative staking mechanism, a dual token system, a sustainable tokenomics model and advanced environmentally friendly smartNFTs. Investors are now looking for an entry into soul before it comes to a rally again. It looks like Soul will resume its rally very soon as it consolidates in a very tight span over the last week. This could lead to a major movement in the coming days. However, the movement could go both ways, which is why you should be careful. Should you buy Soul with the hope of a new all-time high soon?
Here’s what the charts indicate:
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After a large vertical in October and November, Soul began to correct strongly in December. Also, he took support, which was a positive indication that it could be a retracement before it reaches a new all-time high.
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Soul has formed a symmetrical triangle and is located at its end. Therefore, it could break out very soon. However, investors should be patient and wait for a clear breakout before they enter.
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Soul has been trading in a very tight zone in the last few days, which suggests that a big movement could soon be seen.
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The RSI was at the same level last week, which shows that Käufer and Verkäufer are equally strong. Therefore, a movement could occur in both directions.
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Investors can wait for Soul to break the 50-day moving average and target a new all-time high.
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