$SBET has totally been sucking lately, but the fact is that we're closer to a bottom than a top.
on the daily, we are sitting right at the 200ma which should act as support.
also on the stochastic rsi, we look to be curling up a bit. you'll see that the two times before this that we bottomed and curled up, it led to a rally.
let's hope this one does too!
$SBET SharpLink Gaming - NASDAQ trying to slow crypto treasuries without direct shareholder authorization - short-term problem
Selling at a discount to NAV values, below 1x NAV. Targets remain the same.
Updated NAV Targets for ETH $4500, $5000, $6000:
NAVx1.6 Targets: $28.91, $32.06, $38.37
NAVx2.0 Targets: $36.14, $40.08, $47.96
NAVx4.0 Targets: $72.28, $80.16, $95.92
The volume shelf continues to form and a descending wedge is getting tight.
Reference Data:
837,230 ETH, $71.6M Cash, 212.5M shares outstanding. NAV Targets are set to MSTR's 2021 through 2025 average at a 1.6 multiplier. MSTR has traded as high as 4x NAV.
NAV 1.0x:
ETH $4500 = SBET $18.07
ETH $5000 = SBET $20.04
ETH $6000 = SBET $23.98
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