#SXP/USDT may continue its trend after correction

#SXP

The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is heading towards a breakout.

The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.

There is a key resistance zone (in green) at 0.0220, which the price has bounced off several times, making it a strong support level.

A consolidation trend is observed above the 100-period moving average, which we are approaching. This trend supports a decline towards this level.

Entry Price: 0.0204
Target 1: 0.0200
Target 2: 0.0194
Target 3: 0.0187

Stop Loss: At the resistance zone (in green).

Remember this simple rule: Manage your money wisely.

For any questions, please leave a comment.

Thank you.

Trade closed: target reached

#SXP
Target 1: 0.0200 Reached
Target 2: 0.0194 Reached

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