SXP Bullish Idea
Hello everyone,
| We have here one of my favorite crypto projects to HODL. Brief explanation of this project, Swipe is a company that issues debit cards for businesses at small and large scales. When the debit card is used at any merchant the crypto funds from your account are automatically converted to fiat in the POS. | - | On the technical analysis side we have a huge Bullish Ascending Triangle that has been forming since Jan 2020, the longer the formation the more reliable it is. The price for SXP has also touched the support line of the triangle 3 times in the past making it also a very reliable trendline to buy. Last but not least, we have the RSI on the middle level which means that we have plenty of room for the price to rise. I would be expecting the price to reach the close to the RSI Trendline before taking any profits. My long term price target for next year is about $50 which would give us a 2000% Profit from the price we are right now.
Summary:
1. Swipe is a platform that enable businesses to create card programs for users to spend anything globally.
2. Bullish Ascending Triangle formation since 2020.
3. Strong support trendline for entries.
4. RSI has room to grow until SXP is in the oversold side.
5. $50 Target Price in the medium to long term.
| We have here one of my favorite crypto projects to HODL. Brief explanation of this project, Swipe is a company that issues debit cards for businesses at small and large scales. When the debit card is used at any merchant the crypto funds from your account are automatically converted to fiat in the POS. | - | On the technical analysis side we have a huge Bullish Ascending Triangle that has been forming since Jan 2020, the longer the formation the more reliable it is. The price for SXP has also touched the support line of the triangle 3 times in the past making it also a very reliable trendline to buy. Last but not least, we have the RSI on the middle level which means that we have plenty of room for the price to rise. I would be expecting the price to reach the close to the RSI Trendline before taking any profits. My long term price target for next year is about $50 which would give us a 2000% Profit from the price we are right now.
Summary:
1. Swipe is a platform that enable businesses to create card programs for users to spend anything globally.
2. Bullish Ascending Triangle formation since 2020.
3. Strong support trendline for entries.
4. RSI has room to grow until SXP is in the oversold side.
5. $50 Target Price in the medium to long term.
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