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•SXP/USD is currently priced at $0.48 and has decreased by 10.39% over the past day
•The trading volumes have decreased by 12.27% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Will the SXP Coin bulls be able to ward off the bears?
The SXP price today is $0.482690 USD with a 24-hour trading volume of $70,147,177 USD. SXP Coin is down 10.39% in the last 24 hours. The trading volumes have decreased slightly over the past day whereas the Volume to Market Cap Ratio stands at 0.2993 for the altcoin.
The 4-hours price chart for Swipe Token price analysis shows SXP Coin progress is going bearish as the price underwent decline today. The bullish trend had been quite strong over the past few days, but it has been hindered by the uprising bearish momentum at present. The altcoin is currently transacting above the 50 SMA but below the 20 SMA on the four-hour chart. SXP Coin price analysis is indicating that the bears are trying to make a comeback and take the price below the support level placed at $0.40. The bulls, on the other hand, will be looking to breach the resistance placed at $0.60 as they look to continue with the uptrend.
Long Term View for Swipe Token
The RSI showed slowing signs after testing the overbought mark twice in the last 24 hours as it trades at 35.73. A continued progression in its current direction, however, could cause a short-term setback on SXP Token’s chart. The average line for 14 days shows a bullish trend in action and is over the midpoint line. The MACD and signal lines continue to maintain an uptrend following the crossover in the bullish direction and cross into the positive territory. The bullish histograms show an unwavering trend that is in motion.
Conclusion
The SXP Coin technical analysis showcases a bullish breakout potential as buyers are ready to breach the resistance levels. However, the bulls need to be on the lookout for bearish tendencies that ought to be avoided in order for the altcoin to continue its upward trend.
Support: $0.40-$0.35
Resistance: $0.60-$0.80
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
