Swipe (SXP) Resisting Market Bulls, Again Being The Worst Performer Of Market

Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • Swipe (SXP) prices are reflecting that they are completely failing against the bears, showing signs that prices have developed a tendency to fall on a continuous basis. 
  • The SXP/BTC pair is not performing well and faced with an increase in the loss of -7.94% bringing the level to 0.00010185.

The SXP bulls are diminished and completely out of the trading as prices are trading in a very venerable position and suffering to seek a breakout but only developing a tendency to fall for the further depths. There is a heavy resistance present in the prices and its getting stronger and stronger.

The support price of 0.700 is not able to provide an upsurge to the market and only was able to prevent price fall but due to the increase in the negative trade in the cryptocurrency and its tendency to fall and lack stability prices started falling a soon this support level will be tested.

SXP is trading with the market capitalization of $45,774,610 USD with volume traded of $ 14,388,680 USD and circulating supply of 61,373,111 SXP

sxp
Source:tradingview

The technical chart indicates that bears are getting over the prices completely. For the second continuous day SXP being one of biggest losser in the market with some other few currencies even though there is a heavy bullish presence in the market.

SXP prices are facing heavy selling volume according to the technical indicators as they are trading in the red zone which can be an indication of the upcoming heavy bearish momentum is right around the corner for the cryptocurrency.

MACD level indicates that there is a heavy increase in selling volume of SXP which is a negative sign for altcoin as it is making a further fall with heavy bearish momentum.

24hr-RSI is falling towards the bearish zone from the normal zone and currently it is trading right at the crucial level of 50.

The 24hr-CCI is trading right at the bottom of the normal zone with the negative momentum and might develop a tendency to fall down in the overbuying zone.

Resistance Level: $ 0.7460

Support Level: $ 0.7450

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