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Crypto Analysis | SPS Updated APR and Price Outlook

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TobeTada
@tobetada
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Good day Hiveians!

Join me in analyzing the crypto markets!

 

If you have gone to your SPS airdrop claim page you might have seen a new APR

It just jumped from 22% to 60%! How is that possible? I first wasn't sure what this meant as well, but it seems that team now included the voucher airdrop which raises the APR by a lot. I talked about this 3 weeks ago and calculated that it was about 60% for me. So I am quite happy to see that official confirmation. Obviously you have to keep in mind that this will vary quite a bit from day to day depending on the price of the vouchers and that it is a non linear APR increase. In other words, the more SPS you have staked, the more vouchers and therefore APR you will receive!

It's already now down to 57%, but again, it should vary with the price of vouchers. By the way, if you have some vouchers, it is good time to sell them now with them currently sold at about 3 Hive!

The TA

Anyone who has followed my TA for SPS knows that I often speculated a strong price reversal. But for the reasons outlined in previous posts, we didn't get that with the main reason being the strong selling pressure from the airdrop. But things are about to change!

  • The airdrops are coming to an end. The first one (private sale) will end on May 26th and the public airdrop will end on July 26th.
  • The SPS Validator nodes licenses will be sold next week which will burn a lot of SPS
  • Ranked rewards update as well as modern/wild format will hit the game shortly
  • Riftwatchers will be sold in the next few months which will also to buying pressure on SPS as they are only purchasable in SPS

These are tremendous changes for the SPS economy and they will affect the price of the SPS token without a doubt. The question of course is how much. Surely, it will put buying pressure on the token, but it is unclear how much price could go up. But let's have a try...

SPS is still in a descending triangle since the start of its launch.

But we are about to test the upper resistance again. For the reasons mentioned above I believe that price will break to the upside in the coming weeks. Because of the fractal changed observed, I also think that it will go above 13 cents, if only briefly. In the best case scenario we would go to about 17 cents and probably hit a correction. But I am currently favoring the scenario seen in the chart.

After a short impulse wave we would see rather a sideways movement for the coming months. Perhaps even slightly upwards; with the end of the public airdrop I would expect prices to slowly go up again. This will also depend on the changes implemented to the game at that time as summer 2022 will be very busy for the team. If all goes well, we could even see a domino effect with Splinterlands once again making news headlines and see a large number of new players. If so, we could be at 30-40 cents at the end of summer... But this is quite unclear yet!

 

As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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