As the crypto market recovers, the flagship crypto is still acting in resistance and several alts are witnessing a great run. It is obvious that BTC’s bullish action paves way for altcoins to surge. But, this time even as BTC struggles to propel some altcoins are performing great.
The last weeks saw the surge of gaming and defi tokens such as AXS, DAG and AMP, now its time for another dark house I.e Swipe.
SXP the native token of payments platform Swipe is showing a bullish price action. The token is up by 22.5% in just the last 7 days.
The trading volume is also rising. It is up by 3.21% in the last 24 hours according to Coinmarketcap.
Swipe has also made its place in the top 10 banking tokens by market capitalization. It is at 8th position with $164M market cap.
The crypto has risen from from $1.8 to $.2.03 today. Since then it has retraced back and is now trading at $1.91.
Making a bullish case for this token is the popular crypto analyst Micheal Van De Poppe.
In his latest tweet he says, if SXP manages to form a higher low following its retracement. The token can potentially go a leg higher and print 30-40% gains.
The analyst had previously said, once Bitcoin gains back its momentum, the rise of altcoins is inevitable. Now that many altcoins are trying to bounce back and regain the losses caused by the sell off, it might be safe to say a Altcoin season is just around the corner.