Swipe (SXP) has been surging in 24-hour intraday trading today. The coin dropped to $1.01 in December. 37, the coin has rebounded sharply. At the time of writing, Swipe (SXP) was trading at around $2.06. This is nearly 52% up from its lows. Swipe (SXP), is also poised for a bullish uptrend. These are just a few highlights:

• The recent surge was caused by the news that Binance would acquire all remaining shares in the project.

• Despite this, Swipe (SXP) was already rallying after consolidating around the $1.37.

• The token is now well above its 20- and 50-day exponential moving averages, suggesting a bullish outlook.

Data Source: Tradingview.com

Swipe (SXP) – price action and analysis

After the Binance news,

Swipe received a lot of interest from investors. Although the price action showed a 30% increase in 24 hours, we also saw a huge uptick in trade volume. In fact, the 24-hour trading volume was up by nearly 1231% at the time of writing. This indicates that investors are looking to cash in on the bullish run by buying more.

Besides, SXP has now surged past its 20- and 50-day exponential moving averages. It is still however below the 100 and 200 EMAs which could pose some downside risk. The Binance news will buoy STX, but it will rally. The key is to break through its resistance at $2.9 in mid-November.

Why you should buy Swipe (SXP)

Swipe has been a good investment, as it is backed up by solid underlying fundamentals.

The entrance of Binance (a large-ticket investor and possibly one of the most trusted names in crypto) means that SXP has the potential to make better fortunes over the long term. This is the best time of year to invest in the project and keep the token.