After the resignation of Swipe CEO Joselito and the announcement of Binance’s complete acquisition of Swipe in the past months, Swipe (SXP) has risen by about 25-30%.
At the same time, a new formation, Solar.org (network), has emerged alongside the existing swipe.io formation.
With the emergence of solar.org (network), where some changes were made by the developers with inflation and the supply was limited in swipe.io, rumors that the supply was unlimited came to the fore.
When we look at the upcoming processes, the dates of sxp’s activities such as “rebranding”, that is, branding, and “mainnet” on March 31, are getting closer.
So, if we evaluate the pricing of these news and formations by looking at technical data, what effects can they have?
We can see that it has formed an oblique resistance structure by making falling hills since May 2, 2021, that is, the date of ATH, and that it has not been able to break this structure.
Later, after the horizontal support of $ 1.4, it accumulated and tried the uptrend and oblique resistance region again, and was rejected from this region.
With the breaking of this oblique resistance zone, which has been tried at least 6 times, and holding above the $1.98 resistance zone, the upper resistance zones can be followed.
In the second scenario, a retracement to lower support levels may occur with the dominance of sellers in the $1.25 and $1.50 region and the loss of this region.
It may be possible that we can see its reflections on the price in the coming periods, within the formation of the regions specified in the technical data due to both the creation of the new formation by its developers and the current processes of their activities.