Hey SXP, feel free to continue the decline, I don't mind...The price of SXP is between two strong daily S / R zones.
At the same time, we are below the TL signaling the Down trend and also below the EMA Daily 200, which also indicates the downtrend.
However, the current support has already tested 3 times and stopped the falling price. This may signal an upward reflection to test the trend line.
The most important thing is what happens inside the current hourly candle. We can find out if we switch to a lower time frame.
Ideal for entry according to our Price action strategy is the time frame M15, where we evaluate the current situation and decide accordingly whether to trade SXP.
SXP
SXP/USDT TA Update #SXP/USDT Chart by Request :1
$SXP currently trading at $2.03
And $SXP only bullish if break out this red Resistance cluster.
Resistance:- $2.26
But below $2.26 is bearish.
So Now Market is no trade zone.
We will open any fresh trade after market settle.
Support:- $1.81
Resistance:- $2.26
SXP / USDTSXP / USDT
In late may SXP lost uptrend line as a result it dumped hard
Finally we see some action of bulls at weekly demand between 1.9$- 1.67$
I really like the project in long term but when coin dumped by more than 50% we cant expect it go up fast again it need some sort of long time of accumulation first
Expectations : sideway movement ...what i hope bulls hold weekly demand and bulid base Support here before moving up
Things can turn very bearish if we lost weekly Support by weekly candles ..in which mean more dump to past accumulation zones
Good luck
SXP - Short to $1.37It has been a while since I visited this chart but sitting on USD I'm looking for a new long entry on SXP.
- These lines have been in since end of 2020 just before the parabolic run in ALTs. They still seem to be playing a role in support and resistance.
- Looking at the general market price action I think SXP will test the support line once more when BTC starts running in about a weeks time
- Long will be from a target of around $1.37 and coincidently form a local double bottom. SXPBTC target 0.00003602
- Target $2.85
Best, Hard Forky
SXP in a bigger symmetrical triangle!Here's a quick look at SXP 4 hr chart. As we can see, the price has printed a bigger symmetrical triangle. If BTC moves higher from here, we should see a breakout for SXP to the upside soon, so keep an eye on this one! The best entry would be when the price breaks above the triangle with good amount of volume.
My 50x Pick - BonFire token
The idea is: Buy the breakout from the triangle shown in the chart and take profits at the levels shown in the chart.
Targets:
1. 2.58$
2. 2.7$
3. 3.24$
- Profits can also be taken in the resistance zone .
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!