In our previous Swipe (SPX) price prediction article, we were able to correctly forecast the breakout from the ascending channel and the establishment of a new all-time high by the altcoin that represents the Swipe Network, a crypto payment outlet that also offers Visa cards, which has recently become a part of the Binance infrastructure.
3-month SPX chart
Despite the expectations, the price didn’t encounter any resistance at $3.5 and went straight towards $5, a psychological price level that now serves as the historical high of SPX from which the price has already rolled back by 67% on the backdrop of the small crisis that hit the cryptocurrency market in the first days of September. But even such a considerable drop didn’t cause Swipe to go negative in terms of long-term gains against USD and BTC, as its yearly ROI stands at 44,5% and 8.2%, respectively. The all-time ROI is at 728%, a far better result than that of the neighboring altcoins.
At the moment, Swipe occupies the 85th position in global rankings, possessing a market capitalization of $124 million that took a sharp dive from $309 million, recorded in the middle of August. When it comes to the average trading volume, we noticed a significant drop in the past three weeks (from $160 million to $42 million), which coincided with the deepening of the correction. However, starting from September 27, we registered a substantial increase of volume from $47 million on September 26 to $198 million on the 27th and $415 million on the 28th. It could be a sign of the commencing reversal to the upside as SPX appears to have found the bottom of the correction near $1.1, evident from the daily chart.
1-day SPX/USDT chart
We have applied the Fibonacci retracement grid on the same time frame to figure out where the levels of support/resistance may lie during the anticipated rally. Our expectations regarding the rally are supported by the showings of key indicators:
The Fibo grid also reveals that SPX tends to frequently interact with the round-number price levels, such as $5, $3, and $2, which is likely to become the first resistance area on the road to recovery and presumably a new ATH. Again, given how low MACD is in the oversold area, and how bullishly is looks at the moment, we expect the price to easily penetrate through the 0.236 ($2) Fibo level in the next two weeks and reach the point of resistance at 0.382 on Fibo or $2.5 price-wise. However, there is also a possibility that SPX will recover in one big upswing to, or even above, 0.5 on Fibo or $3.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||70.4%||54||$28 066.66||1.34%||4.74%||$542 437 239 798|
|2||ETH||Ethereum predictions||79.2%||39||$1 789.57||1.88%||2.34%||$218 996 509 081|
|3||USDT||Tether predictions||93.6%||1||$1.001142||-0.17%||-0.11%||$78 575 728 756|
|4||BNB||Binance Coin predictions||73.6%||51||$323.24||-0.82%||-3.97%||$51 037 143 522|
|5||USDC||USD Coin predictions||92.8%||2||$0.999814||0.02%||0.03%||$34 407 684 690|
|6||XRP||XRP predictions||86.8%||21||$0.431011||-2.63%||15.02%||$21 960 407 308|
|7||HEX||HEX predictions||58.8%||82||$0.100734||-20.12%||13.44%||$17 468 467 379|
|8||ADA||Cardano predictions||78%||44||$0.362106||-2.95%||6.35%||$12 572 910 866|
|9||STETH||Lido stETH predictions||96%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|10||DOGE||Dogecoin predictions||71.6%||51||$0.074956||-3.44%||-1.02%||$9 944 529 563|
|11||MATIC||Polygon predictions||74.4%||48||$1.11||-1.27%||-8.22%||$9 721 254 465|
|12||SOL||Solana predictions||71.6%||52||$21.64||-0.76%||4.61%||$8 304 118 412|
|13||BUSD||Binance USD predictions||94%||1||$0.999612||-0.02%||-0.10%||$8 060 892 614|
|14||DOT||Polkadot predictions||74.8%||49||$6.14||-0.90%||-5.11%||$7 183 412 082|
|15||LTC||Litecoin predictions||70.4%||59||$92.03||0.57%||9.30%||$6 677 190 783|
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