Solar Price Analysis: Is SXP Price Dipping From Trendline?

  • The price of SXP is trading at $0.3673.
  • The SXP price decreased by 2.33% in the last 24 hours.
  • The SXP year-to-date return is +81.76%.

Weekly Trend Analyzation

This week the trend was bullish as the price was up by 2.14%. We can say that SXP performed well this week by trend and price information history. 

Monthly Trend Analyzation

This month the trend was bearish as the price was down by 11.32%. We can say that SXP underperformed this month by trend and price information history. 

All-Time History Analyzation

The coin’s value surged by more than 50% in all-time history, giving low returns to the investors’ money. 

Chart Analyzation In 1-D Timeframe

Chart Analyzation In 1-D Timeframe
Source: SXP /USD.1D.CRYPTO by TradingView

Trendline Analyzation

As per the trendline, it seems it is respecting its significant trendline support and resistance from supply zones. The chart shows that the SXP price is getting rejected from the current supply zone and can go downwards shortly. This appears to be bearish. So, the price of SXP can reach $0.380 soon, which is the nearest major support, and try to break the current support.


  • The MACD line is at (-0.00584).
  • The Signal line is at (-0.01162).

When the MACD line is below zero, and the indicator gives a bullish crossover (the MACD line crosses above the signal line), the short-term momentum is stronger, which is a bullish sign. The overall trend indicates that the moving average is below the long-term moving average, and therefore the trend is downward. Both are on the negative side and below the zero line. Hence, MACD is giving bearish views on the coin.


The sellers are stronger than the buyers, which shows that the price cannot reach above resistance levels as the bears have high resistance. To change the direction, the price has to go sustain above the 20, 50, 100 & 200 EMA. Hence, it can be suggested that the price might fall soon since it is below the 20, 50, 100 & 200 EMA (exponential moving average), which supports the trend downwards. Investors’ sentiments regarding coins are negative and are on the bearish side.


  • The RSI line is at (46.90).
  • The 14 SMA line is at (45.50).

When RSI moves above 70, it indicates that prices may rise too far too fast and should soon start to drop.
When it moves below 30, it indicates that prices have dropped too far too fast and should soon start to rise.
Since it’s between 70 & 30, it is interpreted that when the RSI is above 50, it is a buy signal, and below 50 is a sell signal. As observed on the chart, the values seem below 50, so we can say that it is a sell signal.
As we can see in the chart, the RSI line is in a bearish zone i.e., the line trading below the median line. The market is bearish since the 14 SMA and RSI lines are below the median. 

Bollinger Band

In the Bollinger Band indicator, the SXP coin price is trading slightly above 20 SMA at the upper band, but it has faced resistance and rejection from the trendline. After taking rejection from the upper band of the Bollinger Bands and heading towards the lower band, it indicates a downward move.

Volume Analyzation

The amount of SXP traded in a day is $36,100,052. It rose by 4% since the last day. Therefore, it is observed that buyers are trying hard to sustain, which is the reason for the slight increase in volume, but it cannot push the price up because the market lacks considerable volume.


Currently, the technical parameters for the SXP coin indicate bearish pressure. The perspectives of traders and investors are bearish. If the price continues to move under the seller’s control, it will fall more from the current levels. The sentiments of investors and traders are bearish regarding the price of coins in the 1D timeframe.
SXP’s price reflects a pessimistic condition right now. Major legitimate indicators like MACD, RSI, and EMA flaunt negative signals about SXP.

Technical Levels:

  • The Nearest Support level is $0.2800.
  • The Nearest Resistance level is $0.4500.


In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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