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Dalmas Ngetich
Aug 6, 2021

Swipe (SXP) and Serum (SRM) Technical Analysis: What to Expect?

Swipe
Swipe and Serum prices are roaring higher on the back of decent participation levels. SRM/USDT may reach $6.5 while SXP/USDT bulls target $3.

Swipe (SXP)

The project aims to make cryptocurrencies money. They are bridging the crypto and fiat world using APIs designed to create global payment cards using SXP coin as its ecosystem currency.

Past Performance of SXP

The Swipe coin is trending higher, as per the candlestick arrangement in the daily chart.

At the time of press, SXP technical analysis shows that prices are in a bullish breakout pattern, clearing above the descending channel as SXP prices bottom up.

The immediate target stands at $3.

The SXP token is up three percent at press time versus the greenback on the last trading day.

Day-Ahead and What to Expect

The SXP crypto price is firm on the upside, likely to breach $3 in the days ahead.

Since the upside momentum is strong and bull bars are banding along the upper BB, suggesting strength, every low may offer buying opportunities for aggressive SXP bulls.

SXP/USDT Technical Analysis

Swipe Price Daily Chart for Aug 6

From the daily chart, SXP is trading within a bullish breakout pattern. Following gains on early late July, SXP buyers have the upper hand as aforementioned.

Accordingly, every low above $2 may offer attractive entries for SXP bulls targeting $3 in the short term.

Serum (SRM)

The Polkadot-based project brings the speed and reliance of CEXes to DeFi, allowing for cheap, trustless swapping of tokens. SRM is the protocol's native currency.

Past Performance of SRM

From SRM technical analysis, prices are trending higher, within a bullish breakout pattern.

Even so, the confirmation hasn't been strong since Serum token bulls are finding resistance at spot levels.

Technically, every pullback above $4 offers a loading opportunity for buyers aiming at $6.5 in the medium term.

SRM token is now stable versus the USD at the time of press.

Day-Ahead and What to Expect

The past few days' bars are will long lower wick suggesting strength in lower time frames.

Since SRM/USDT prices are in a bullish breakout pattern, buyers have the upper hand.

As a result, the SRM coin may bounce back towards $6.5 in the medium term.

SRM/USDT Technical Analysis

Serum Price Daily Chart for Aug 6

Serum technical analysis shows that bulls are in control.

Since the breakout above $4 was with high trading volumes, the contraction of prices in the last few days may offer entry opportunities for traders targeting $6.5.

A dump below $4 cancels the uptrend, confirming the August 3 breakout as a fake bullish breakout.

Swipe (SXP) and Serum (SRM) Technical Analysis: What to Expect?
Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.

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