Serum (SRM) and Swipe (SXP) Technical Analysis: Bulls Grinding Higher

Dalmas  |  Aug 28, 2021

Serum and Swipe bulls are reading from the same page. SRM crypto prices may surge to retest all-time highs of $12.5 in the medium term.

Serum (SRM)

The DEX runs on the Solana blockchain using SRM token whose co-founder is Sam Bankman-Fried of FTX.

Past Performance of SRM

The Serum token posted sharp gains on August 27 as per the SRM technical analysis on the daily chart.

At the time of writing, the token is up four percent, reversing losses of early this week.

Additionally, the SRM crypto is bouncing off from the middle BB—a flexible support level—indicating strength in lower time frames.

Day-Ahead and what to Expect

Overall, the Serum token is bullish and could extend gains in the days ahead.

Since the SRM crypto found support at the 20-day moving average and trading volumes are decent, entries might be available in lower time frames.

Ideally, a close above $8.5 and August 2021 highs might spark the next wave of demand, lifting the SRM coin towards $12.5—H1 2021 highs.

Serum Technical Analysis

Serum Price Daily Chart for Aug 28

The path of least resistance is northwards as per the technical candlestick arrangement in the daily chart.

Accordingly, aggressive Serum coin traders might pick entries in lower time frames above the middle BB, targeting $8.5 and $12.5 in the immediate and medium-term.

A retracement below this week's low and the middle BB at $6 nullifies the uptrend.

Swipe (SXP)

The project is linking the crypto and fiat world using the SXP token.

Past Performance of SXP

The Swipe coin buying pressure is solid as per the SXP technical analysis in the daily chart.

Swipe crypto bulls have successfully absorbed the selling pressure of mid-this week, pushing higher at the time of press.

The SXP coin is relatively stable versus the USD on the last trading day.

Day-Ahead and what to Expect

Swipe prices are trending at around August 2021 highs.

At the same time, the underlying momentum is strong since SXP token bull bars are around the upper BB.

In a bullish breakout pattern above $3, every dip above the middle BB may offer entries for aggressive bulls aiming at $6.

Swipe Technical Analysis

Swipe Price Daily Chart for Aug 28

Technically, Swipe crypto buyers have a chance.

In a bullish breakout pattern, as aforementioned, every low could be a loading point for traders looking to ride on the swing high.

Their immediate target is at the all-time highs of around $6. Since the momentum is strong and volumes are swelling, this target is tenable.

A profound correction below $3 invalidates the SXP crypto uptrend.

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