#SXP Technical Analysis in a Daily Timeframe

20 sept.

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Now, let’s dive into this chart analysis:

The last 24 hours have been outstanding for SXP, with a massive 70% rally. The breakout from the resistance trendline led to a mega-pump toward the higher resistance without any retest.

Currently, SXP is facing rejection at the $0.3133 resistance. If it fails to close above this level on the daily timeframe, a correction is likely.

The primary support for SXP is at $0.2424, while the lower support or accumulation range is between $0.19 and $0.21.

Here are the key levels to consider:

- Primary Resistance: $0.3133.
- Primary Support: $0.2424.
- Crucial Point: A breakout above the $0.3133 resistance in a daily timeframe.
- Accumulation Range: $0.19-$0.21.

Note: Any changes in the accumulation range will be updated based on price movement.

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