Project Name: SERUM
Index: SRM
project type: Decentralized exchange, DEX, DeFi
Platform: Solana blockchain
exchanges available: Kraken, Binance, FTX, KuCoin, Houbi, ByBit, Bithumb, Poloniex, Bitfinex
FIAT/Stable coin pairs: USD, USDT, BUSD, USDC, EUR, GBP
Founders: FTX, Solana foundation and Alameda research lab
Serum is a decentralized exchange (DEX) and ecosystem that claims to bring high speed and low transaction costs to decentralized finance (DeFi).
they say it's the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serum’s on-chain orderbook to share liquidity and power their trading features for institutional and retail users.
the wide range of exchanges listing Serum SRM is a huge attraction for me, especially ones like Kraken which are more conservative than others, and the issue I believe, DeFies are about to get bold and important again plus the DEX thing is going to play bigger role soon, makes me believe I have to consider Serum SRM in my watch list!
Technical Analysis
the zones are supply and demand areas.
My main trading strategy is based on Divergence and since we don't have a valuable and tradable divergence in Daily time (which I mostly look into) and since the weekly chart hasn't enough data for me, I analyze this chart with an IF
IF the price breaks above the wedge in the chart, I will wait for a pullback, as the pullback formed (probably like what I drew) I will try to find a divergence in the dips.
I believe the move would be like that, which means I enter at 3.35 and exit at 5.7 USD