Swipe Technical Analysis: SXP/USD inches away from a new all-time high after Binance acquisition
- SXP/USD is up 650% in the last month.
- The parabolic bull run was caused by Binance and its acquisition of the platform.
Swipe is climbing the market capitalization ranks with a ton of trading volume while getting closer to its all-time high at $2.11.
SXP/USD daily chart
SXP is currently overextended on most time-frames and it’s looking for a pullback, however, FOMO is keeping the digital asset from seeing a sell-off. The trading volume has been increasing significantly over the past week and the daily RSI is close to 93 points.
SXP/USD 4-hour chart
The 4-hour chart is in a healthy uptrend with short periods of consolidation followed by continuation moves. The RSI has been overextended many times here as well, however, bulls have managed to cool it off.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
