(UPDATE) this is an update on the recent analysis of SXP/USDT which now you can see that the price has moved in the direction we predicted! the price has 3 bearish signs right now: 1-the price has touched the top of the broadening wedge pattern and Decreased from that point! 2- a shark pattern is pretty visible on the chart which has just been completed and now it's time for correction.the correction can be up to 0.618 or 0.78 line of Fibonacci retracement (strong support zone) 3- there is a regular bearish Divergence on MACD as well (-RD) so these signs makes us think that the price must start to decrease from this point. the correction can be up to 1.6 or even the bottom of the broadening wedge. there is a slight chance that SXP would break the broadening wedge if it happens the price can increase to 3$ which is a Pretty strong resistance as well. summery: -SXP/USDT has moved in the direction of our prediction and touched our target! -Multiple bearish pattern and signs! strong support at 1.60$ -slight bullish chance to 3$
Previous Analysis:
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