The price is moving in a bearish channel on a daily time frame and is adhering to it well.

Observations show #SXP charting lower highs and lower lows coupled with decreasing volume hinting at a loss of momentum. If #SXP maintains support at $0.2900 yet continues its downward trajectory, we anticipate hitting the projected support zone at $0.2500 next.

Conversely, if #SXPUSDT holds its support and swings back into the channel, it may suggest a bullish counter attempt. In this case, the price could ascend towards the significant resistance at $0.37.

A drop below essential level of $0.3000 - $0.2900 could signal the onset of a more profound bearish trend

#SXP is currently trading in a descending channel, but the price is approaching a key demand zone, setting the stage for a possible bullish breakout.

if #SXPUSDT taps into the critical demand level of $0.1950. Should the price maintain strong momentum here, we could see Price breaking through the descending resistance and targeting the major supply area at $0.3000 .

A successful breach above this supply area could lead to a significant bullish move, pushing the price towards a strong resistance zone.

However, falling below this level could signal a prolonged bearish trend, and #SXP will keep moving within a descending channel.