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.