It is possible that the Swipe (SXP) correction that has been going on afterward May has come to an end. A breakout from the current figure would conclusiveate this likeliness.

SXP has been sliding aprotractedside a plunging resistance line afterward touching an all-time strong rate of $5.87 on May 3. So far, the line has rejected SXP four times, most recently on Jan 2 (red icons). The rejection led to a low of $1.11 on Jan 24. 

SXP has been moving skywards afterward and is directly exchanging within the $1.45 horizontal field. This is a essential range that acted as support afterward May 2021. Therefore, its restore would be a very important development, afterward it would render the previous crack-up as only a deviation. This would also likely lead to a breakout atop the aforementioned tumbling resistance line.

SXP Resistance
Chart By TradingView

Potential SXP breakout

Technical indicators in the daily time-frame are bullish. This is especially evident in the considerable bullish divergence that has developed in both the RSI and MACD. Such serious fluctuations very often precede skyward changements. 

Therefore, both indicators suggest that an eventual breakout from this weakening resistance line is likely.

The main resistance levels are found at $2.95 and $4.05. These are the 0.382 and 0.618 Fib retracement resistance levels, respectively.

SXP Breakout

Chart By TradingView

The two-hour chart also shows that SXP has broken out from the $1.38 horizontal field. This range is now possible to provide support in the future.

Short-term SXP

Chart By TradingView

Wave count analysis

The most reasonable count does suggest that SXP is correcting within a large A-B-C structure. Assuming that so, it is nearing the end or has ended the C wave, that has taken the shape of an ending diagonal.

The matter which SXP has swept the May 13 lows (red line) anew supports this likeliness. A breakout from the wedge would verify which the correction is complete

Wave count

Chart By TradingView

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