🔍 Technical Analysis for Currency $SXT
✅ General Trend
Current trend: Technical indicators suggest that SXT is in a short-term downtrend, following a sharp increase since its launch.
Key support level: Located at $0.1171, which is the lowest price recorded over the past 24 hours.
Key resistance level: Located at $0.1623, which is the highest price recorded during the same period.
📈 Technical Indicators
Relative Strength Index (RSI): Located in the overbought area, which may indicate a potential price rebound soon.
MACD Indicator: Shows a negative crossover, supporting the continuation of the short-term downtrend.
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🔮 Future Predictions
Positive scenario: If the price remains above the support level at $0.1171, the price may target levels of $0.14 then $0.16.
Negative scenario: If the support at $0.1171 is broken, the price may head towards the next support level at $0.10.
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✅ Recommendation
Due to the current volatility, traders are advised to be cautious and monitor the mentioned support and resistance levels. There may be opportunities for short-term speculation, but it is preferable to wait for trend confirmation before making investment decisions.
Note
This is not investment advice, so please remember to do your own research before any action
