- The price is currently moving sideways after testing its 50 EMA level and rebounding from it.
- The indicators are showing a bullish signal but the price is looking to test its support level. Know when to place your trades.
- The 200 EMA is at $0.0246 which is near the SNT coin’s immediate resistance level.
Status (SNT) is a crypto token that is built on top of the Ethereum platform. The SNT coin was launched in June 2017. Just like many other cryptocurrencies, SNT has experienced significant price fluctuations in its short lifespan of less than 2 years of active trading in the market. In December 2022, the SNT coin price touched its all-time low at $0.017.
However, the new year 2023 came with a bullish trend for the SNT coin price. The coin broke past the first resistance at $0.023 and then another at $0.025 in the same month of January 2023. This bullish rally stopped in February when the bulls took the price to a staggering high of $0.041, reflecting an increase of 137%. Since then, the bulls have slowed down, and there has been a correction in the market.
SNT Coin Price Technical Analysis and Prediction
Currently, the SNT coin is trading at $0.024, following a bounce from its immediate support level of $0.0196 in mid-August. Over the past couple of days, the bulls made an attempt to breach the 50 EMA resistance at $0.023 but faced a rejection from this level.
In addition to the 50 EMA, the first resistance level for SNT coin is situated at $0.025. Beyond these initial support and resistance levels, the secondary levels are identified at $0.017 and $0.028. The second support level aligns with the SNT coin’s historical low price level.
Furthermore, indicators like the MACD are showing an uptrend that occurred after the MACD line made a bullish crossover with its EMA back at the start of this month. At present, the MACD is at -0.000046 while its EMA is at -0.00057.
The relative strength index (RSI) is currently signaling bullish momentum. After touching oversold levels of 22 back in August, the RSI has rebounded and is presently at the level of 41. Furthermore, its Simple Moving Average (SMA) has crossed above 41, suggesting an increase in bullish strength.
The price prediction for the SNT coin is looking bearish for the short term. However, the indicators suggest an increase in the bullish strength, the coin is more likely to fill the liquidity towards its immediate support level of $0.,0196. After that, however, a new high can be made breaking past the 50 EMA, and the coin can move to its immediate resistance.
Resistance: $0.025, $0.029
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.