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SXP

SXP vs USDT Fibonacci AnalysisBottom chart is for reference to show where the fibs are drawn from. On SXP we can see that it is currently in a falling wedge. It is still in a downtrend on this section, making clearly lower highs and lower lows. There is very clear support at the point marked in a purple box because: -It is a horizontal zone of high volume, meaning there are likely to be a lot of buyers waiting there. -It is a 0.618 on the fib of the last upward impulse move (fractal continuation fib) -It is a 0.382 on the long term fib of the large upward move (continuation fib) It is currently bouncing off a low volume zone, which is bullish if there is significant follow-through. I am not sure there will be. So I waiting for price to go a bit lower, on another capitulation, before entering. It is a safe entry in my opinion. If it gets filled, great. If not, look for more trades. Remember to keep a level head and take profits when trades go your way!
by StayHydrated1
SXPUSDT Retracement In Play, Get Ready! 📉SXP is bullish this month. Keep an eye on it. Moon Cup formed on the daily or otherwise called Cup-and-Handle . Then a huge parabolic move, close to the ATH of $5 . Bulls failed to push higher beyond known Resistance of $3.5 area. Bears took over for a ride down. Though after the latest rally, it is crypto-logical to see a retracement before returning to hit ATH . Support levels on the way down at $2+ and another near Pivotal zone Death Cross already in play on EMA, 1H. I expect a bounce from Yellow Zone , near 618 Fibonacci. If broken, we go lower near Red Zone except Bulls show great courage. You may set buy entry near the zones, employ DCA in your buying strategy. I have my trap at $2.53 . if it drops lower, I will buy more using DCA . SXP was moving irrespective of BTC , hope to see more of it again. Follow 🚶 Like 👍 Share your thoughts !
Long
by CryptonKidd
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