Cryptocurrencies are gaining popularity in the world now due to the sharp increase in the number of transactions and popularity in recent years. Like Bitcoin, Ethereum and other cryptocurrencies, Swipe also gets the same appeal.
Swipe (SXP) is an ERC-20 token built into the Ethereum network and is a ‘decentralized finance’ (DeFi) token. The swipe known as SXP is gaining popularity because it connects the use of crypto to the real world. It was launched in 2018 before being owned by Binance in July 2020.
Welcome To Swipe - Everyday Debit
The uniqueness of Swipe is that it has a digital wallet ecosystem designed to allow users to use cryptocurrencies to shop either in the virtual world or in the real world. In 2020 they have introduced the Swipe debit card in collaboration with VISA for payment purposes.
Attracting investors, Swipe has seen an aggressive price jump from $ 0.70 in January 2021 to nearly $ 5.00 as of May 5, 2021, an increase of about 700% in just four months.
On the SXP/USDT price movement chart, the price movement has recorded the latest all -time high (ATH) of $ 5.86 in early May, unfortunately the impact of the Bitcoin (BTC) fall has made the decline up to the support level around $ 1.5 down almost 70%.
It can be seen that after making a decline, it made a rise again but failed to break the SBR zone (support become resistance) around $ 2.6.
Crypto analysts expect that if the price movement manages to continue the bullish trend and break the $ 2.4- $ 2.7 SBR zone, the expectation for a higher rise will lead to the next SBR zone at the $ 3.6 price level before testing the next resistance level.
However, if the price movement does not succeed in maintaining the bullish trend, the price movement will re -test the $ 1.5 support zone and should be the next observation.
