SXP BUY/LONG SETUP (1D)SXP has entered an uptrend after a very large decline from where I put "The start of the upward movement" on the chart. It has formed bullish CHs and BOS and has undergone a correction after hitting important resistance.
It has formed a liquidity pool in the lower range, which by collecting this pool and hitting the OB, which is our order block and the origin of the upward movement, can move towards the announced targets.
I specified the targets and invalidation level.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
SXPUSDT trade ideas
SXP Buy TradeHere is My Srutdy On SXP.
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🔥 SXP Crazy Bounce Idea: Support + Bullish DivergenceSXP seems to have found (temporary) support alongside the diagonal purple support line drawn on the chart. This reversal trade idea is based on the idea that this support will hold and cause a bounce, helped by the bullish divergence that's apparent on the RSI.
The high of the last couple of days is around 0.335, so we're going to wait for a daily candle to close above that area to initiate the trade. Stop under the recent lows.
With a target at the April highs we can construct a very good trade with extremely high Risk-Reward.
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SXP ANALYSIS (4H)Hi, dear traders. how are you ? Today we have a viewpoint to BUY/SELL the SXP symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Neutral Market Sentiment with Potential for Bullish BreakoutThe SXP coin is currently trading at 0.3456. Taking into account various indicators and Fibonacci levels within a 4-hour timeframe, we can assess the market sentiment.
The Relative Strength Index (RSI) is at 60, indicating a neutral territory. This suggests that the coin is not currently overbought or oversold, providing a balanced market sentiment.
Examining the moving averages, the EMA 50 is at 0.3360, indicating a short-term bullish sentiment as the current price is above this level. On the other hand, the EMA 100 stands at 0.3563, suggesting a long-term bearish sentiment as the price is below this moving average.
The Moving Average Convergence Divergence (MACD) has a value of 0.0052. Although it indicates a relatively weak bullish momentum, positive MACD values overall suggest an inclination towards a bullish sentiment.
Considering Fibonacci retracement levels, we can identify potential support and resistance levels. The 0 Fibonacci level at 0.3028 could act as a significant support level, followed by the 0.5 Fibonacci level at 0.3243. Conversely, the 1 Fibonacci level at 0.3458 may serve as a crucial resistance level.
Combining these indicators and levels, we can discuss possible scenarios:
Bullish Scenario:
If the price breaks above the resistance level at 0.3458 and confirms the breakout, it could signal a bullish scenario. In this case, the price might continue to rise, potentially targeting higher resistance levels.
Bearish Scenario:
Should the price fail to surpass the resistance level at 0.3458 and begins to decline, a bearish scenario might emerge. The price could find support at the Fibonacci levels, particularly at 0.3243 and 0.3028.
It is essential to note that cryptocurrency markets are highly volatile and influenced by various external factors. Conducting thorough research, considering additional indicators, and analyzing market trends are crucial before making any trading decisions.