Yesterday was a very interesting day for all cryptocurrency markets. Most assets lost value, whereas others have successfully maintained an uptrend. The current Swipe price trend is very bullish, as a new all-time high is within reach.
Swipe Price Remains Bullish
It is commendable to see so many tokens mount a rally during these uncertain times. News of a coronavirus vaccine has shaken up the markets, even though everyone knows that it is probably a fake. With no real testing or verification going on, it is evident that Russia’s plan will not necessarily be a good one.
As far as the Swipe price is concerned, the uptrend continues all across the board. A strong gain in USD, BTC, and ETH value shows that the market is rebounding quickly. This momentum also brings SXP closer to setting a new all-time high altogether.
Partnerships are a Crucial Aspect
For any cryptocurrency project to succeed, there need to be core partnerships at all times. For Swipe, those partnerships are slowly rolling out, allowing the team to effectively introduce new products and services along the way. About a week ago, several products were announced in this regard.
Swipe is thrilled to announce the release of our #Swipe Product Manual which is Swipe’s all new redefined white paper with simplicity in mind.
Swipe Pay, Swipe Savings, Swipe Credit, Swipe Network DApps, new Cards with new perks, and morehttps://t.co/m13LM4Pysp
— Swipe (@SwipeWallet) August 11, 2020
These new products will certainly help the Swipe ecosystem grow and evolve in the coming months. Building a brand new ecosystem from scratch is not easy, but it can be done with hard work. There is plenty to look forward to for investors.
What’s Happening on Social Media?
One would expect the social activity regarding Swipe to pick up significantly. Interestingly enough, that isn’t entirely the case. The social volume is rising, but engagement is way down. The bullish sentiment is also down by 2.1%, which seems a bit odd, given the current Swipe price momentum.
One interesting factor is how, despite the decrease in bullish sentiment and engagement, the social dominance for SXP is rising. It is still discussed very often on social media, yet the statistics don’t reflect the sentiment.
All Statistics are Green
Looking at the Messari analytics, Swipe is in a very good place right now. Everything is in the green, and the real trading is also fairly impressive. With $160.688 million in volume, the demand for SXP is certainly tangible in the cryptocurrency space.
Keeping this momentum rolling will be the key objective for coming weeks. A lot of it will depend on Bitcoin, obviously, but for now, things are looking pretty good. Plenty of traders will keep an eye on the Swipe price for some time to come.
Technical Indicators are Bullish
Similar to all other aspects regarding the Swipe price, technical indicators confirm that SXP is bullish. Sustaining this momentum will not be easy, but there is no real bearish pressure either.
The MA20 and MA50 are both angling up, and there is plenty of liquidity to sustain the current uptrend. Even yesterday’s dip is a mere blip on the radar, which is very interesting indeed.