Swipe (SXP) Attempts to Reclaim Previous Range High Level

2021-4-27 15:00

Swipe (SXP) is in the process of reclaiming a support level that has been in place since the beginning of the year.

If Swipe manages to reclaim this level, it would be an extremely bullish development that could likely lead to a new all-time high in the process.

Swipe trading range

Cryptocurrency trader @PostyXBT outlined an SXP chart, stating that if the resistance area of the current range is reclaimed, a significant upward movement could follow.

Source: Twitter

The resistance area is found at $4.05. While the token initially validated this level as support, it has since fallen back below it. 

An interesting development is an ascending support line that has been formed since Jan. 22. SXP has validated this support four times since but broke down below it on April 22. 

However, it’s now in the process of reclaiming this level. If successful, it would be an extremely bullish development. 

Technical indicators are turning bullish but have not confirmed a reversal yet. 

Therefore, SXP is at a crucial point that could determine the direction of its future trend. Reclaiming this zone along with the support line would also turn indicators bullish.

Chart By TradingView Wave count

The wave count for SXP is not entirely clear. The most likely scenario is that the entire movement since Feb. 16 has formed a corrective structure. In this case, it appears to be a running flat correction. This would mean that SXP has now begun an extended wave three. 

If so, the first resistance area would be found at $7.80, but the token would be expected to break out and increase higher.

Chart By TradingView SXP/BTC

Similar to its USD counterpart, technical indicators in the daily time frame do not confirm a bullish trend reversal, even though there are bullish signs present. 

SXP has reclaimed the 6,750 satoshi area. As long as it is trading above this level, it’s likely to increase towards the next resistance at 10,500 satoshis.

Chart By TradingView Conclusion

Swipe is in the process of reclaiming a crucial horizontal and diagonal level. Doing so would confirm that the trend is bullish, likely paving the way for a new all-time high price in the process.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

The post Swipe (SXP) Attempts to Reclaim Previous Range High Level appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Swipe (SXP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.3268
Капитализация $0 Rank 99999
Цена в час новости $ 3.7967 (-100%)

range swipe could level sxp reclaim high

Источник: beincrypto.com

range swipe → Результатов: 4


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Swipe (SXP) Briefly Taps New All-Time High

SXP is expected to gradually continue increasing towards $8. Ongoing SXP Breakout SXP has been moving upwards since March 25, when it was trading at a low of $2. 62. Since then, it has increased by a full 95%, reaching a high of $5.

Swipe (SXP) Approaches Top of Long-Term Range

Swipe is also trading inside a short-term resistance area and channel. Whether it gets rejected from these levels or breaks out will likely determine the direction of the short-term trend.   Swipe Long-Term Range In August 2020, SXP reached an all-time high price of $3.

Swipe (SXP) Moves Back to Trade at Range Lows

Swipe is expected to continue consolidating in this range before potentially breaking out.   Swipe Trading Range SXP has been moving upwards with strength since Jan. 27, when it initially broke out above the $1.

SXP Breaks Down From Long-Term Support

The Swipe (SXP) price has broken down from a long-term support level. While the price is approaching a possible Fib reversal level, technical indicators do not yet show any bullish signs. Breakdown From Support The SXP price has been decreasing since it reached a high of $5.