SNT price shows a bullish reversal failing to surpass the resistance trendline and starting a bearish spiral as the selling pressure grows. Key technical points: The SNT market value decreased by 7.61% today at press time. However, the price action shows a higher price rejection from the resistance trendline. The 24-hour trading volume of the Status is $81.84 Million, indicating a hike of 139%. Past Performance of SNT The SNT price chart shows that the overall trend is bearish as the long-coming resistance trendline keeps the downwards going. At the beginning of April, the decline at the 200 DMA resulted in the market price falling lower than the essential DMAs down to $0.028, accounting for a 65% reduction. The bullish fightback took back its 20 DMA and increased by 50% in just three weeks, threatening the 50 DMA and the trendline of resistance. Source- Tradingview SNT Technical Analysis Today’s bullish candle shows a price rejection candle at press time and struggles to end above the resistance trendline, signaling the SNT buyers are losing the power struggle. This failure can increase the probability of a downtrend reaching below $0.035 and then retesting $0.028 as the lowest support. The 20 DMA, 100 DMA, and 200 DMA are all in bearish alignment, and the 20 DMA shows the bullish reverse. However, selling pressure at the 50 DMA stopped the rebound and kept the overall trend. The RSI indicator is a sign of an upward trend tha...
