Sovrun (SOVRN)
1. Basic Info
| Symbol | SOVRN |
| Name | Sovrun |
| Web Site | |
| Wallet | -- |
| Source | -- |
| Explorer | https://etherscan.io/ |
| Forum | -- |
| Mining | |
| Supply | 896771567 |
| Available Supply | 692327122 |
| Market Cap | 152406123.32859 |
| White Paper | -- |
| Is ICO | None |
| Raised Funds | - |
| Distribution | - |
| Algorithm | -- |
| Proof | -- |
| Total | 896771567 |
| Release Date | 2024-12-02 |
2. Technical
2.1 Kline Price Chart
2.2 Technical Analysis
The recent price action shows a dramatic surge followed by consolidation and a potential retracement phase. The period from 2024-12-23 to 2024-12-28 indicates initial support at around 0.03. A sharp increase occurred between 2024-12-29 and 2025-01-02 showing a clear bullish trend. The trading volume also increased dramatically during this period. There is a period of profit taking and sideways trading between 2025-01-03 and 2025-01-04. The strong surge on 2025-01-06, with exceptionally high volume suggests a significant rally, however subsequent candles such as 2025-01-07 shows weakness. The most recent data point (2025-01-07) suggests potential for profit-taking or a reversal. We are currently seeing lower peaks and lower troughs, hinting at a potential downtrend. The volume on 2025-01-07, while still elevated, has decreased compared to the previous period signaling a possible weakening of the bullish trend. Further observation is needed to determine if a period of consolidation will form before a future directional trend. The price has shown strong volatility and high volume, this indicates a high risk, high reward trading pattern. Short term price movement is unclear. Long term trend may reverse to the bearish.
