SDAO Pumps! $40 SDAO This Bull Run? | SDAO Analysis & Update | Crypto News Today
Now there is not a lot of information available in the charts, as this is a new project, but i am going to walk you through what i am seeing in the data so far and what my thoughts are for, where things are likely to go. In my opinion, for s down guys as we get into this video, if you find it useful and informative hit the like button, i really do appreciate that, if you are new, then do subscribe tap the bell select all notifications, and in doing so you will be Kept up to date with everything that we do here with that said done and out of the way lets dive into this technical analysis on s down now we are kickstarting things guys with the daily chart. Theres, not enough. Data for the weekly so were gon na. Have to use this to the best we can now. Obviously here we can see there are two fibonacci retracement tools. We have this one on the left hand, side and the one on the right this one over here on the left is indicating where we started and the lows that were achieved during that initial kind of point. And then we started to see a good traction to the upside. We actually found another high point and a pullback of significance and thats, where the second fib comes in now. The first fibonacci retracement were using this as a bit of a guide to say that we could see 8.
23 on the horizon, and obviously we started to track quite nicely towards that target. Far too fast. In fact, to say that this is the highest, it is ever going to go after this pull back here. This has actually given us a little bit of a platform to say that we could see 17.56 on the horizon now for this next leg. Up with that being said, though, i do feel that singularity doubt it has a bigger price target in mind. I wouldnt be surprised if we were to see something around the forty dollar range for s, dow its that kind of project. Overall, we performance has been very, very good with a good pullback allowing us to accumulate. During this period. There were some fantastic opportunities recently to pick up a bag for only 3.32 per coin. And again i am still building up a significant position with s dow. It is one of those projects that, during every dip and every opportunity i am basically buying it up. This is something that i think has a huge repercussions for retail investors and im going to talk about that a little bit in a moment, and but ultimately, the progress that we have seen today has been very, very good and im, hoping that this does continue and Were going to have a look at the hourly in a moment to see what kind of patterns are forming in our hourly charts to see whether or not were going to get good traction up towards our 618 702 and 786 areas? Just on the chart here, im going to highlight these guys, so we obviously are very aware that these are the areas that we want to focus in on and because this is where the main battle will occur as we go up to price discovery.
Okay, so looking pretty good on the daily and, of course, its important that we also acknowledge that the stochastic is now oversold, although on the journey on the way up, we were overbought so its good to see that correction has also corrected our stochastic ready for that. Next leg to the upside overall, nothing major to report with the daily here it is looking pretty good and i think a good progress is going to occur here as we continue the push to the upside its at this point in the video guys im going to Talk about singularity, dao and the importance of this project for retail investors on the singularity dow, which is a spin off of singularity net that will allow you to basically invest in a diner set. A dyno set will then invest for you on your behalf. As a retail investor in various different cryptocurrencies, the ai will look at the underlying data that sits inside each of the cryptocurrencies and rebalance the portfolio accordingly, meaning that you are going to be utilizing the same level of tools that the institutional investors will also be using. Allowing you to basically close the gap and actually claim back some of that disadvantage that you have been experiencing recently so now. This is a really important project. I do feel for retail investors to do more research on. I cannot stress this enough. This project is going to be absolutely massive and its really going to help a lot of people in this space and actually make the uh.
You know competition kind of a little bit more, even across the board. I think this is one that i think everyone should actually get into the documents get into the white paper read everything that you can about this project understand it because its very very critically, important in my opinion, that we understand what is going on here with esdao And why this project is very important, obviously its a spin off of singularity net, which is also building on the cardinal ecosystem. When we talk about artificial intelligence marketplaces, and things like that, i think its important that we also understand what is going on with singularity net. What is going on with singularity dow and some of the other spin off companies that have been set up in the background, because all of these things will interconnect together to create a whole ecosystem, and i think its important that we understand whats going on there. Obviously, im very big when it comes to artificial intelligence in the crypto space, so very important. I think that um other people who are also techy in their mindsets, but also want to kind of you, know level the playing field between institutional investors, hedge funds and, of course, and making sure that the retail investors get a piece of that pie too. So, overall, i think its important check it out singularitydow.ai do some research on it. I dont think youll be disappointed with that being said, though, lets jump into the charts and get into our hourly view and talk about whats been going on most recently.
As you can see, the data here is very fragmented, and this is just because, ultimately, theres not a lot of trading going on with this particular cryptocurrency um, but i on this note, i also have to stress that there isnt a lot of circulating supply. There are only a hundred million tokens that will ever be in existence and out of that 100 million 20 million of them are actually in circulation right now, so a very, very small supply. It would not take a lot of money to make this micro cap coin. Absolutely popped to the upside in an absolutely massive way, so i think this is an important project. Do more research on it, understand it inside and out, and you wont be disappointed when we actually take a look at some of these trends that are going on here. When it comes to sdow on this data, we can of course see that we are on a bit of a downward trend right here now. Obviously, the main thing that we want to be looking for is to basically find these any kind of triangular wedges between our kind of resistance and support lines and, of course, any potential trends that are forming. We can see that there is a good kind of support here and again. We have actually just gone above this, so if we do actually find ourselves within this uh triangular wedge just here, that could lead to a good break to the upside, where we do target, of course, the 618, the 702 and the 786.
it wouldnt take a lot Of money to see a good move like this actually occur, where we push up to the upside in a very significant way. That being said, we are expecting a pullback right. We are overbought on this daily, sorry hourly stochastic rsi, so we will be looking for a pullback to kind of get us back in line and allow us to continue the growth to the upside. That being said, the technicals on microcaps are usually the hardest to do and because it wouldnt take a lot to actually invalidate almost everything you see here. A small amount of money coming out of a project well see this thing dump down hard, but also a small amount of money flowing in well see this thing absolutely rocket to the upside. So therefore, its really difficult to kind of say for sure whats going to happen when we do not know how people are going to be investing, whether they go hard and heavy into it or whether or not they actually decide that it isnt for them and pull Out right and we start to see that decline overall, though the technically speaking, we are lining up quite nicely some key areas and we have seen pretty good progress so far. I think we are going to see a small pullback with a massive surge to the upside. In the near future, and like i said at the beginning of the video, i do think that this is likely to be a 40 coin this year, or at least this ball run if that does get extended into next year.
Overall, i think long term, though, and i do think this product is going to be around for a very long time and i do think its going to be absolutely massive in a few years from now. So definitely one that im going to be accumulating during the bear market, so do stick around for that guys. I am going to leave this video here because there isnt too much. I can talk about in terms of the technicals, but we are expecting a small pullback on the short term, with a massive surge in the longer term.