When we look at the data of the past 2021, the “play to earn” games (SLP) were differentiated from other coins in the market in terms of loss of value due to the continuous increase in supply and the formation of hard selling pressure.
In general, with the return of the rising trend, there was a loss of approximately 99% in the ATH region. After this sharp decline, we observed the positive effects of axs software developers, who made improvements in the supply mechanism, prevented this decrease in price, and a sharp increase of approximately 300% in the first week of February 2022.
With the latest sharp decline, the game emissions were reduced from 130 million SLP to zero with the statements by the software developers of SLP that the circulating supply would decrease, updating the game features and going to version 2.
When we evaluate according to the following technical data;
Smooth Love Potion (SLP), which has been in a downward trend since July 2021, managed to break the downward trend with the reflection of the reaction on the price with the version 2 update carried out by the software developers of Smooth Love Potion (SLP), and since February 3, it has made an upward trend and gained approximately 340% in value.
Currently, it continues to move in the $0.0349 and $0.0410 region after its sharp rise, and the resistance level in the rising trend coincides with the 0.618 region.
As a good scenario, if the resistance in this region is broken and the trend continues by closing in the daily time frame, a possible upper supply region can be followed.
Moreover, a break of one of the most important resistances at $0.053 will trigger a rally to the other resistance zone, 0.1. In a possible retracement, it will continue to move horizontally at the levels where it started to rise again.
To summarize; We can see the positive reflections on the price with the reduction of the circulating supply of this coin, which has unlimited supply, and the triggering of the technically specified levels together with the innovations, updates and integrations to be made to the system at the same time.