Today, let's delve into the price action of SXP token. SXP primarily serves as the native token of the Solana blockchain, with endeavors to facilitate Swipe card adoption within the blockchain.
During the bear season, it dipped to $0.17, hovering near the lows for a significant period. However, it has since rebounded nicely over the past few months. Currently, it's down almost 92% from its all-time high. Yet, if they execute their roadmap as planned, significant returns could be expected in the future.
On the weekly timeframe, we observe sell-side liquidity being present around $0.93. If it manages to break through, rapid gains to $1.36 and $1.76 could follow. From here, I anticipate a return of nearly $4 in the future.
As per the daily chart, it's currently trading at $0.44, engaging in regular trading within a range for quite some time. It's likely to swing up to $0.69 in the future.
For entry, I've opened the four-hour chart. The price is currently hovering just below the $0.5 level. Entry can be considered for short-term profits, with $0.49 as the exit point. Set the Stop Loss (SL) at $0.40.