- SXP token shows a bullish crossover of the 100 and 200- day EMA
- The SXP/BTC pair was trading at 0.00008649 BTC with a gain of 8.37 %
- The 24hr trading volume in SXP token is $595.1 Million
The SXP token shows a steady uptrend in its chart, encouraging the trend traders looking for long opportunities in the Crypto market. However, the token price is currently facing strong resistance at the $4.3 mark, presented by a long rejection candle. Thus, if the token is able to sustain below the overhead resistance by the end of the day, then the bull rally could show a minor pullback on the token chart.
As per the EMA’s, The SXP token’s price shows a bullish trend, trading higher than the critical EMA’s 20, 50, 100, and 200. Moreover, the chart also shows a bullish crossover between the 100 and 200 EMAs, luring more buyers to the token.
The RSI (BULLISH) value is at 78, indicating a strong bullish emotion in the token market. However, the RSI line shows a slight bearish divergence with the price action.
SXP Token Crypto Chart In The 4hr Time Frame
The SXP token in the 4hr time frame shows an upcoming ascending trendline supporting the bullish rally. This trendline seems quite reliable as it has provided multiple support to the token’s price. Thus, if the token gives a proper follow-up red candle, the SXP traders can expect a minor pullback to this support trendline.
The Moving average convergence/divergence indicator (BULLISH) still indicates a bullish momentum, as the signal and MACD lines are moving higher to the neutral zone (0.00).
Conclusion: From the technical perspective, the SXP token has shown a remarkable rally in the SXP/USD chart, crushing all the resistance levels in their way. However, as mentioned above, the token price is struggling to cross the $0.43 resistance, indicating a minor pullback which should be healthy for a long bull run.
Support– $3.5
Resistance– $4.3