Price Action Analysis for Coin #SXT
The $SXT on the 30-minute chart shows a corrective pullback after the recent sharp uptrend, with the price currently trading at $0.01193. The price is attempting to test initial support zones to remain within a positive range, while the moving averages are crossing downwards, increasing immediate selling pressure. Based on the Fibonacci tool's data, the upcoming movement levels are defined as follows:
Pivot Point (PP): Located at $0.01223, reclaiming this level and holding above it is a crucial condition for restoring bullish momentum and attempting to test previous highs.
Target Resistance Levels: If the price manages to break above the pivot point, the successive bullish targets are set at TP1: $0.01290, followed by the second target at TP2: $0.01377, and ultimately reaching the highest target at TP3: $0.01480.
Protective Support Levels: The price is currently above the first support wall ST1: $0.01164, while the main support level and last line of defense is at ST2: $0.01096.
The most likely scenario is a continued test of the current support levels; if the price succeeds in holding above ST1, it may begin to form a consolidation base in preparation for a return towards the pivot point at $0.01223.
#SXT #Crypto #AIMONACCI
The $SXT on the 30-minute chart shows a corrective pullback after the recent sharp uptrend, with the price currently trading at $0.01193. The price is attempting to test initial support zones to remain within a positive range, while the moving averages are crossing downwards, increasing immediate selling pressure. Based on the Fibonacci tool's data, the upcoming movement levels are defined as follows:
Pivot Point (PP): Located at $0.01223, reclaiming this level and holding above it is a crucial condition for restoring bullish momentum and attempting to test previous highs.
Target Resistance Levels: If the price manages to break above the pivot point, the successive bullish targets are set at TP1: $0.01290, followed by the second target at TP2: $0.01377, and ultimately reaching the highest target at TP3: $0.01480.
Protective Support Levels: The price is currently above the first support wall ST1: $0.01164, while the main support level and last line of defense is at ST2: $0.01096.
The most likely scenario is a continued test of the current support levels; if the price succeeds in holding above ST1, it may begin to form a consolidation base in preparation for a return towards the pivot point at $0.01223.
#SXT #Crypto #AIMONACCI