1. SXP has been in a downtrend since 30 Aug 2020 due to the instability of Bitcoin Dominance.
2. SXP has rejected monthly support, and it is near the demand & supply zone. We may see some accumulation here, and Bullish move afterward.
3. Volume is continuously decreasing as well as price has been decreasing, which means that the downtrend is not supported by the volume, and weak hands are selling it.
4. Volume Needs to increase for uptrend move.
5. Lots of events are coming for SXP at the end of September, so may see a spike in price around 30 SEP 2020. Also in October.
6. IMPORTANT: Keep In mind the BTC Dominance as well, BTC Dominance is at the RESISTANCE level, if it breaks the resistance then ALTS gonna BLEED more. So, Watch Closely.
Trade Safe. Never Invest you whole Capital. Go with 5-10% per trade.
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