#SXP Technical Analysis in a Daily Timeframe

20 set

Hello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

The last 24 hours have been outstanding for SXP, with a massive 70% rally. The breakout from the resistance trendline led to a mega-pump toward the higher resistance without any retest.

Currently, SXP is facing rejection at the $0.3133 resistance. If it fails to close above this level on the daily timeframe, a correction is likely.

The primary support for SXP is at $0.2424, while the lower support or accumulation range is between $0.19 and $0.21.

Here are the key levels to consider:

- Primary Resistance: $0.3133.
- Primary Support: $0.2424.
- Crucial Point: A breakout above the $0.3133 resistance in a daily timeframe.
- Accumulation Range: $0.19-$0.21.

Note: Any changes in the accumulation range will be updated based on price movement.

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you

#PEACE