SRM is the native token to FTX's DeFi Exchange Serum that is run on the Solana Network and I have Been Eyeing SRM around these levels for several months now and while I am Bearish on the Macro, something tells me that we could get some positive FTX related news soon and if we do, it would make sense for this 1.618-1.902 Fibonacci Extension Area to hold. If it does, I think it could at least go back up to the heart line, but it could do much more. We have some Bullish PPO Arrows in this area so that's a good sign already.
I don't have much of a stop loss for this trade as SRM is way too volatile, but I personally will be sticking with buying some spot and risking small amounts of leveraged money at these areas just to see if I can get anything out of it while using the 1.902 as a general cutoff point.
I don't have much of a stop loss for this trade as SRM is way too volatile, but I personally will be sticking with buying some spot and risking small amounts of leveraged money at these areas just to see if I can get anything out of it while using the 1.902 as a general cutoff point.