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Wassup Papers, we’re back again with an analysis of arguably one of the best animation project on Solana. Sit back, take a sip of some whiskey only if your of age of course, Aiden I’m looking at you, and learn more about The Bastards.
The Bastards is built by the team behind SkyPunch Studios, a European-based animation studio which consists of 15 full-time animators, however the team is aiming to add 12 more to the team. SkyPunch Studios has worked with countless accomplished Web2 companies including Rovio, Voodoo, CCP Games, Supercell (Clash of Clans, Clash Royale, Brawl Starts creators), and Warner Bros to name a few. The art studio also has plenty of experience with Web3 projects including Experiments, Communi3, and Pilots.
Although there is much mystery behind the project, the team aims to provide utility through its story telling, developing its IP, and providing holders exclusive benefits through their partnerships. And as of right now, I feel they have already accomplished these main tenets less than a month since mint.
The days leading up to The Bastards’ mint, a series of short animations were posted depicting a story of a violent hungry cowboy who likes to drink whiskey. Ultimately, he is severely wounded in battle and presumed dead.
However, miraculously the protagonist is repaired with robotic machinery and continues his adventures. Unfortunately, my description does not give justice to the story telling and I highly recommend you visit their twitter and watch the animations yourself. One thing is for certain, SkyPunch Studios was successfully able to create a story that captivates the attention of numerous CT degens and proves their storytelling capabilities. An animation is only as good as its idea, and it seems the team has best of both worlds.
This is where the fun begins!
The Golden Cross is a textbook technical analysis study and occurs when a short term moving average, typically the 50 day moving average, crosses the long term average, usually the 200 day moving average. This study is considered a bullish signal as it suggests the recent price movement is breaking the previous downtrend. The chart above depicts the 50 day moving average, in blue, crossing the 200 day moving average, in white. This can signal a rally to higher local highs as according to The Chart Report, the golden cross has a 60–64% success rate.
Referring to the chart above, you can notice an ascending triangle pattern forming depicted from the blue trendline connecting the local low to the recent resistance point at 7.7 $SOL. This pattern suggests that the previous general downtrend is broken and a reversal is imminent. And sure did a reversal happen and with a bang, notice the surge of volume breaking the resistance and now depicting a breakout, when an asset broke its recent resistance point, in this case 7.7 $SOL, and can result in prices surging to local all time highs.
A breakout is when the price of an asset breaks former resistance and reaches local highs. This is usually followed by a small pull back and a possible larger pump. More experienced chartists will notice an Elliot Wave formation here. Elliot waves are the idea of applying human psychology to reoccurring trading patterns or waves. The most popular Elliot Wave pattern are the 1–2–3 waves, the first wave is the initial thrust upwards which is then followed by a small pull back, from profit takers, and finally the third wave occurs which is the strongest wave of them all. The theory behind this is that the second wave “shakes” out everyday traders, or we would call Paperhands in web 3, and let’s long term holders accumulate and possibly push price to even higher highs.
TLDR
- Previous downtrend has been broken
- Possible new uptrend has been signaled by multiple technical analysis studies
- Wen moon (jk don’t take financial advice from a sleep deprived teenager who can’t do trigonometry)
However, I do want to stress these are just educated guesses and even the best trade set ups don’t pan out.
“If you do the right things on the top line the bottom line will follow” — Steve Jobs.
If a company creates the right atmosphere, hires the right people, follows the correct strategies naturally they will make the right decisions such that sales, partnerships, and profits will follow.
I feel Bastards have taken this concept to heart. The team already has plenty of experience in the animation industry, which has been proven through their top notch Web 2 clients but also their numerous and successful Web 3 partnerships. This is a deadly combination as the team has the professional Web 2 touch but also the nitty gritty Web 3 experience that is necessary for a project to succeed. Looking forward to what eJ and SkyPunch Studios has planned for us these coming days.
Thank you for reading as as always…
DYOR and don’t take financial advice from a teenager 😉
-Taj Trader
Disclaimer: All information provided herein is published for educational purposes only and should not be construed as investment advice. No profitability nor performance claims of any kind are being made. Trading is a high-risk, speculative activity. I am not an investment advisor, financial planner nor registered broker. I am a publisher of educational content, and a high schooler who can’t do trigonometry.
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