Market Update - SXP & TWT
- SXP Falls 13%: Solar's SXP coin declined by a whopping 13.02% in the last 24 hours on Binance spot.
- TWT Rebounds 10%: Trust Wallet Token (TWT) had rallied 10.5% from the daily low, as spot market buyers propped up the wallet-related exposure.
Market Analysis
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- SXP's Bearish Trend: SXP is trading around $0.064-$0.065 USDT, indicating that the price is dominated by sellers but no capitulation wick is shown. The reduction in the token's collateral value and delisting from FameEX contribute to SXP's bearish trend.
- TWT’s Bullish Rebound: TWT’s current market price is around $0.78-0.80. There is a short-term bear market sentiment due to an exploit in the Chrome browser extension. Nevertheless, fundamental values and upcoming uses of this token could trigger a potential rebound. Outlook - BTC Dominance: The base case is that BTC dominance is going to hold or continue grinding higher through New Year’s Eve, which keeps SXP and TWT struggling on BTC pairs. - TWT's Potential Upside: TWT might push higher in the short term with a potential USD upside of 10-15% by Dec 31, but TWT's weakness in BTC might continue unless there is some weakness in BTC.
#sxp #twt #ave #btc #bitcoin $SXP $TWT $BTC