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Cryptoknowmics 2022-06-04 05:05:23

SXP Techncial Analysis: SXP Gains 11% versus BTC and ETH

SXP coin is up by eight percent versus the USDT and double digits against BTC and ETH. As the upside momentum builds up, buyers have their sights on $0.70 and $1.15. Past Performance of SXP The SXP crypto price is one of the top crypto performers, according to trackers. The coin is up eight percent versus the USDT and roughly 11 percent against BTC and ETH. Its price is retesting a critical resistance level at $0.58. It marks the December 2020 lows. Depending on the reaction at present levels, the token’s bulls could break out to register higher highs or recoil in a retest. SXP Technical Analysis From the daily chart, buyers are in the driving seat. Bull bars are beginning to band along the upper BB, suggesting upside momentum. This build-up could extend gains in the medium term. Currently, SXP prices are up 83 percent from 2022 lows. The correction of the undervaluation of May 13 is bullish for prices. A close above $$0.58 with rising volumes may trigger demand, allowing buyers to double down. However, considering the current formation, a complete reversal of May 11 losses and a rally above $0.70 would be ideal. In that case, risk-averse traders may load targeting $1.15. What to Expect from SXP? SXP price appears to be bottoming up. However, critical resistances are at spot rates and $0.70. A close above May 11 highs would likely draw in more bulls targeting $1.15.The post SXP Techncial Analysis: SXP Gains 11% versus BTC and ...

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