SXPUSDT
SXP/BTC (Strong Selling Pressure)💎Technical Analysis Summary💎
BINANCE: SXPBTC
-SXP broke its immediate support area around 8400s sat
-We can see the daily candle is extremely Bearish
-The potential downside target is around 6000s sat
-Please don't try to catch a falling knife
-Wait for any sign of Bullish strength before opening a trade
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SXPUSDT 1D - At the ground floor! Basement? Or going up?SXP is potentially at it's bottom support. At least as far as historical data goes.
We see volume has absolutely tanked as the price has been consolidating down, constantly bouncing off the yellow support zone. A couple volume spikes notably on green candles.
RSI is very oversold.
MACD is fighting sideways. I think the earlier volatility followed by the sideways movement has kind of paralyzed this indicator at this moment.
Wait for a confirmed breakout direction. As volume is at a low we're likely to see some increased pressure in one direction or the other in the coming days.
If we're heading up, TP's are in green, the yellow fib is possible bounce point on short term breakout, and the Purple (Violet? Pink? magenta? your guess is good as mine fellas) levels are long term potential tp's.
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Swipe SXPUSDT - Elliott wave + Descending channel- Swipe is going down, there are no buyers at all
- This coin is on all time LOW pretty much, so i cannot see any potential for an immediate short term
- You can buy at 0.5 - 0.6 USD later
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Swipe SXPUSDT - Descending triangle + out of control- Bulls run away from this coin right now
- Descending triangle or descending market structure is confirmed on the chart
- You can sell SXP and buy lower, or short the coin on any crypto futures market
- If you feel uncomfortable holding this coin, you should listen to your body
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Swipe SXPUSDT - Elliott wave + parallel channel, Ultimate bottomParallel channel is already broken, but there is still a possibility to retest this channel as support! Please, keep that in mind. Else the elliot wave count is completed to the downside, which is of course bullish. I will provide a detailed technical analysis and wave analysis to this coin on lower time frame as well, follow me so you don't miss this update...Also, price around 1 USD can be ultimate bottom for this coin.
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Swipe SXPUSDT - Descending triangle, very bad!Swipe is currently forming this descending triangle to the downside, that is nasty. If you take a look at Bitcoin dominance chart (below), you can see Head and Shoulders pattern. I think Swipe definitely have some potential, but for now, we need to wait for a better price in the future. Bulls cannot hold any of previous supports and selling pressure is increasing.
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SXPUSDT Chart Swipe(SXPUSDT) fundamentals are very strong. Swipe launched crypto funded USD checking account and debit card. Current market cap only $100 Million. Swipe can be a real competitor and challenge to crypto.com (market cap $3 Billion). Both competitions would help for more innovation and shaping the crypto industry. According to this SXPUSDT got more room to go up and technical supporting too.