SXPUSD Start of Bullish Momentum

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Trader Kyer, an analyst on TradingView, went a little bit out his domain of charting Bitcoin and Ethereum, and offered some information on the price action of Swipe to the U.S. Dollar in his latest analysis.

Swipe (SXP) has bottomed out at 0.623 and reversed off this level, starting to go long and form its bullish momentum.

What is SXP?

SXP is a cryptocurrency that powers The Swipe Wallet. The Swipe Wallet has been designed to require Swipe Tokens SXP to perform all functions and utility of the Wallet including to use the services and to make withdraws. Users on the Swipe Wallet can buy, sell, and pay with their cryptocurrencies to fiat directly within the Wallet application as well as purchase Gift Cards and make instant exchanges between all supported assets.

Users are able to use their SXP tokens to launch and there are also tiered benefits based on the SXP holding on the Wallet Contract.

Swipe has a circulating supply of ~85M and a total supply cap of 300M.

Entry Targets and TP Levels

Perfect entry on SXP would’ve been along the weekly support accumulation zone at 0.623 – 0.767. It has already gained the 1.174 level as support going long towards the other TP levels.

Seen on the chart, the next level to take profits i’m looking at is $1.52 – $1.745

The long term target is TP3 at $4.322, the swing high (previous ATH) created in the August pump right before the BTC dump at the end of the month going into September. From that move, it is now reversing, 4 months later.

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