Solanium (SLIM)
1. Fundamental Analysis
1.1 Introduce
Solanium is an all-in-one platform for the Solana blockchain. Featuring a launchpad, decentralized trading, governance and staking. Solanium’s vision is to create a platform that is easy to use in terms of UI and UX and to bring Solana to the mainstream public. Solanium is the first launchpad with working tech. The public sale was powered by their own platform and not through an external IDO or IEO provider. The platform offers future launches and projects full whitelist and KYC support, and features a Telegram integration to keep the user in sync with platform notifications.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | SLIM | Market Cap | 9560000 |
| Name | Solanium | White Paper | -- |
| Web Site | https://www.solanium.io/ | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | https://explorer.solana.com/ | Algorithm | -- |
| Forum | -- | Proof | -- |
| Mining | Total | 100000000 | |
| Supply | 100000000 | Release Date | 2021-06-01 |
| Available Supply | 100000000 |
2. Technical Analysis
2.1 Kline Chart
2.2 Analysis
Following a period of intense volatility, the market appears to have entered a phase of contraction. A significant price retracement has occurred following a substantial, almost parabolic advance. Several days of aggressive selling, characterized by wide ranges and exceptionally high trading volume, culminated in a decisive break below previously established support levels. This initial phase of sharp decline was punctuated by a brief attempt at recovery; however, subsequent selling pressure quickly negated any upward momentum.
The recent price action highlights the formation of a potential distribution pattern. The large, decisive moves on high volume, followed by failed rally attempts and a subsequent drift lower on reduced volume, suggests a shift in market sentiment. The magnitude of the selling volume on the initial down drafts confirms that considerable supply entered the market after the late peaks.
The immediate trend appears to be a continuation of the downward correction. The trading range has narrowed considerably. The consecutive lower highs and lower lows observed in the last few trading days indicates an ongoing weakening of the underlying buying pressure. Any attempt at a significant upward movement is currently met with swift resistance. The lower levels are finding buyers, but the rallies they provide are limited in scope, and there is no clear indication of buying conviction.
While the volume has dramatically decreased since the period of intense selling, it remains noteworthy that it has not significantly increased during the current sideways drift that followed. This lack of volume on any bounce implies that buyers are hesitant to re-enter the market aggressively, this is likely due to a combination of a cautious sentiment among traders and an acknowledgement that the distribution is a strong signal for lower prices. The final volume data available highlights that this reduced volume trend will more than likely continue. This can create a market where sharp movements up or down could be exacerbated by illiquidity.
The potential for further downside movement cannot be discounted. Until there is an identifiable change in the volume-price relationship, it is highly anticipated that there will be a continuation of the identified pattern with the overall sentiment currently signaling a likelihood of further weakness and lower prices. The next key stage to watch will be a break to outside the tight range which has formed, which will most likely follow an increase in volume. No indication of this is present, at this time, from the data provided. The market appears to be within a defined bearish trend that has established itself through decisive high volume selling moves and has continued with its pattern of consolidation on low volume. A failure to rally strongly would lead to the expected lower price breakout.
