SXPUSDT needs to hold the supportSXPUSDT has recently encountered liquidity at the 0.1965 level.
This indicates that there was significant buying pressure at that price point.
However, the price then faced rejection at the 0.786 Fibonacci resistance level, suggesting that there may be strong selling pressure at that level as well. In order for the price to continue its upward trend, it will need to hold the 0.2741 area of dynamic support.
This means that the price should not fall below that level, as it would indicate a loss of bullish momentum.
Overall, this technical analysis suggests that the price of SXPUSDT is currently facing resistance at the 0.786 level, but may be supported at the 0.2741 level.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
