SXP is currently trading at $1.46 after establishing a robust downtrend. The peak of SXP was $5, reaching a market capitalization of $314 million. After a tremendous month in July and half of August, it seems that most of the hype behind SXP is now gone. The digital asset peaked at $5 on Binance but has lost more than 70% of its value in the last month and a half. SXP/USD daily chart It seems that the only support level closeby is $1.25, established on July 27. Bears have been able to continuously push the price of SXP down, creating lower lows and higher lows. Studying the IOMAP chart, we can clearly see a massive support level right at $1.39 and nothing else around. A bearish breakout of this level would most likely take SXP down to $1.25. SXP/USD 4-hour chart Bears still need to remain careful as the 4-hour chart could flip bullish in the short-term thanks to a buy signal from the TD sequential indicator. The RSI is also quite overextended and close to dropping below 30. Additionally, looking at the IOMAP chart again, a defense of the $1.39 support level could help SXP to bounce back up and aim for $1.65 as there are relatively low resistance levels on the way up. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Fed: First interest rate hike forecast moved to 2025 – BBVA FX Street 2 years SXP is currently trading at $1.46 after establishing a robust downtrend. The peak of SXP was $5, reaching a market capitalization of $314 million. After a tremendous month in July and half of August, it seems that most of the hype behind SXP is now gone. The digital asset peaked at $5 on Binance but has lost more than 70% of its value in the last month and a half. SXP/USD daily chart It seems that the only support level closeby is $1.25, established on July 27. Bears have been able to continuously push the price of SXP down, creating… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.