The current price of $SXP /USDT (SushiSwap) is $0.3811, showing a +22.19% increase.

Market Insights:

Recent Surge: The price has experienced a strong upward movement, indicating significant buying interest in the market.

Support Level: A support level could be around $0.3500, which may help prevent further downside.

Resistance Level: The immediate resistance is near $0.4000. If the price surpasses this level, it could continue its upward momentum.

Trading Strategy:

Bullish Traders: A buy position could be considered, especially if the price breaks above $0.4000, with a target at $0.4500.

Bearish Traders: A short position might be considered if the price fails to break the $0.4000 resistance and starts retracing.

Stop Loss: Place a stop loss below $0.3700 to manage potential downside risks.

Monitor the broader market trend and news events to confirm whether the bullish momentum can sustain at these levels.