SXP’s Price May Breakout to Set a New ATH in the Coming Week

• The price of Solar (SXP) has dropped more than 4% over the last 24 hours.
• A bearish chart pattern present on SXP’s daily chart suggests that its price will continue to drop.
• SXP’s price breaking above the chart pattern may result in a rally to a new ATH.

The price of Solar (SXP) has fallen 4.92% over the last 24 hours according to CoinMarketCap. As a result, the altcoin’s price stands at $0.574 at press time. SXP also weakened against the crypto market leaders Bitcoin (BTC) and Ethereum (ETH) over the last 24 hours as well. Currently, SXP is down 2.61% against BTC and 1% against ETH.

There is currently a bearish descending triangle chart pattern present on SXP’s daily chart as the altcoin printed lower highs over the last 2 weeks. At press time, the crypto’s price is trading at the apex of the chart pattern, which suggests that it may breakout soon. In addition, the crypto price is also trading close to its 24-hour low of $0.5703.

Technical indicators on SXP’s daily chart suggest that this breakout will be towards the downside, as the daily RSI indicator is flagging bearish and the 9-day EMA line…

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