The Swipe price has suffered massive losses. Can it find support now or will the fall continue?
Swipe Price Forecast – Bearish breaking of the Fibonacci support!
The Swipe price fell under the 0.382 Fib support at $1.63, off which SXP had previously seen a 32% bounce!The MACD is seeing bullish development in the daily chart and the MACD lines could soon cross over, while the RSI is slowly reaching oversold regions. The 0.382 Fib level at $1.63 now acts as resistance!
Currently the SXP price seem sto be heading towards the golden at ±$1.2.
In the weekly chart there’s still hope that the Swipe price closes over the 0.382 Fib level at $1.63, and as such SXP could rise all the way to the horizontal resistance at $2.3.
But as the trading volume keeps dropping lower, reaching the golden ratio at ±$1.2 seems more likely.
Against Bitcoin the Swipe price even dropped below the golden ratio support at ±0.0002 BTC. The next significant support for the SXP price lies at 0.0001225 BTC. The golden ratio at 0.0002 BTC is now the resistance to break for the SXP price to be bullish again. The dropping trading volume is a negative indicator.
Best Regards and successful trades
Konstantin
