Technical analysis by SaeedSalehinia about Symbol SOV: Buy recommendation (12/5/2024)

Sovryn is a noncustodial and permissionless smart contract-based system for Bitcoin lending, borrowing and margin trading. A DeFi platform for Bitcoiners, Sovryn allows users to trade Bitcoin natively and permissionless on a decentralized application.Anyway, SOV chart is simple: SOV has been in a deep correction since birth. Then SOV broke the downtrend line, and a new upward phase started. It is clear that SOV has been making higher highs and higher lows and is currently being at a new low. SOV's chart shows promising room for growth. Let's see what happens.P.S. Be careful since SOV trading volume is very low.So, as it turned out SOV is moving in a big inverted-wedge pattern. Currently, SOV is at the bottom; have to wait for confirmation when SOV breaks the downtrend line. Let's see what happens.