The downtrend line is broken.
The RSI mismatch is very obvious.
It should move quickly towards $3.5 - $4.
Solar mainnet will be the catalyst for this move.
HTF perspective - 1D chart
We are at the end of descending triangle, SXP still can go both ways - RIP or UP
UP scenario would be clean break above red TL - retest + hold with not much of a resistance to $3.5 imo
RIP scenario would be R.I.P aka worse than stablecoin.
DO NOT jump in yet imo since SXP has not yet decided its direction, be patient. CHEERS :)
TL;DR
-Watch for restest of horizontal support
-Target $4.19 as first target( sell initial investments)
-Watch for succesful retest of D1 resistance or purple trendline and add to positions
-Target trendline resistance as second target ($6.5+)
As we know, I put out a trade idea for SXP recently saying it could reach $20 this cycle and $89 in the long...
Well, the goal of $5 has been achieved , a little not as planned in the previous idea, but still.
Even the SXPUSDT price slightly updated the maximum, but so far these are false breakouts.
Now, according to the SXPUSD chart, you can see that at the moment strong support has formed at the level of $2.60 , why shouldn't the Swipe price go there again?)
And...
SXP/USDT in a possible livermore accumulation cylinder. Time frame for the idea to play out might be longer but, I've tried to allign it with known fundamental events surrounding swipe
