Is Swipe (SXP) a good buy in November 2021?

Swipe SXP/USD remains under pressure; the price of this cryptocurrency fell from $4.10 below $2 in less than several weeks. Technically looking, the risk of further decline still persists, and if you decide to buy this cryptocurrency in November 2021, you should use a “stop-loss” order because the risk remains high.

Swipe makes issuing crypto powered debits cards simple

Swipe is a platform that enables businesses to create, manage, and distribute branded virtual and physical cards for users. Swipe makes issuing crypto-powered debits cards simple, and users are able to tokenize their cards and have access to Samsung Pay, Google Pay, and Apple Pay.

Users are able to issue a virtual card instantly with a full suite of controls such as PIN controls, locking the card, enabling foreign transactions, reissuing lost cards, MCC restrictions, and more.

Swipe manages all the regulatory, compliance, and network responsibilities before card launching and allows businesses to customize what they want their users to have access to on-demand.

Swipe recently launched a rewards application that enables business clients to lower their marketing costs at the expense of participating retailers. With this tool, cardholders can earn up to 30% cashback, but this option is only available in the United States currently.

Swipe is a very promising project, and it is continuously working on new features, which are very important for the ecosystem. Many projects already collaborate with Swipe, and the most popular ones include Binance and FTX.

Swipe supports more than 130 fiat currencies globally, while the SXP is a token that powers the Swipe and runs on the Ethereum network. SXP has skyrocketed since the beginning of August 2021 and reached a high above $4.5 on 25th August.

Since then, the price has collapsed, daily trading volume has weakened, and this cryptocurrency remains in a bear market.

Strong support stands at $2

Swipe (SXP) did not oscillate too much this October, and technically looking; it still remains under pressure.

Data source: tradingview.com

SXP is currently trading above the strong support level that stands at $2, but if the price breaks it, the next target could be at $1.5 or even below.

On the other side, if the price jumps again above $3 resistance, the next target could be at $4; still, traders should use “stop-loss” and “take profit” orders when opening their positions because the risk remains high.

Summary

Swipe makes issuing crypto-powered debits cards simple; it supports more than 130 fiat currencies globally and handles all identity verification requirements per region. SXP is currently trading above the strong support level that stands at $2 but technically looking, it remains under pressure.

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