The falling SLIM prices hold near the $2.70 mark and show increased chances of a bullish breakout of the falling channel.  

Solanium is a decentralized platform for crowdfunding and trade on the Solana blockchain. The platform has the DEX UI and staking capabilities, as well as wallet management, governance, and the launchpad. This SLIM token sale took place on the 22nd of May 2021. 

Five million SLIM tokens going on sale. The sale was also followed by an airdrop was made available in the amount of one million SLIM tokens among more than 500,000 participants.

Read more to know more about the technical analysis of the Solanium token.
<h2>Past Performance of SLIM</h2>
The SLIM coin price shows a drastic fall of 27% in the past six days after finding supply near the $3.75 horizontal level. Moreover, the falling price action results in the formation of a narrow descending channel. 

However, the falling prices halt near the $2.70 mark and show a bullish recovery in action. Therefore, price action traders need to patiently wait till the price breaks above the resistance trend line of the falling channel.

<img src="https://s3.tradingview.com/snapshots/l/l6M3W7A5.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/l6M3W7A5/">SLIM/USD Technical Chart</a>
<h2>SLIM Technical Analysis</h2>
A detailed look into the SLIM coin price action shows a double bottom pattern near the $2.70 mark. And, the breakout of this pattern can result in the breakout of the resistance trend line.

The bullish breakout of the falling channel can find resistance near the $3.2 and $3.75 marks. However, in case of a fallout of the $2.70 mark, the $2.30 horizontal level will help halt the falling prices.

The crucial EMAs - 50, 100, and 200 maintain a bullish alignment in the 4-hour chart. Moreover, the 50 and 100-period EMA give a bearish crossover increasing the selling sentiments.

The RSI indicator at 43% shows the slope rising higher to the center mark in the 4-hour chart. Furthermore, the MACD indicator shows a halt in falling lines and gives a bullish crossover of the fast and slow lines.

Therefore, the indicators in the 4-hour chart provide bullish signals and increased chances of the trend line breakout. Therefore, traders with bullish intentions can shortly find an entry opportunity.
<h2>Upcoming Trend</h2>
Currently, the SLIM coin price finds support near the $2.70 mark and forms a bullish engulfing candlestick. However, the traders need to wait for a better entry opportunity with less risk.

SLIM Technical Analysis: Falling Prices Hold Near the $2.70 Mark 

The falling SLIM prices hold near the $2.70 mark and shows increased chances of a bullish breakout of the falling channel.  

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SLIM Technical Analysis: Falling Prices Hold Near the $2.70 Mark

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