SXP break out soon ?? 📢 Hello Traders. Hope you are having a brilliant day.
Well, I want to talk about SXP on 4H chart. As you can see, price lately broke the yellow resistance line with a nice green candle. What now?
I think price is going to make a compression under the purple resistance which is ATH and then breaks out.
Best buy positions are :
1) Pullback to the yellow line ( around 4.5$) 2) When it breaks the purple resistance and consolidates above or pullbacks to it.
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades.
🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on SXP and don`t forget to comment what you think. ✌
