SWELLUSDT: Bullish Reversal in Play, Targeting Higher Levels
Firstly, our Algo-based indicators are used to create this analysis. Follow me so you don't miss, Boost and leave your comments if you profited with our posts, so we may continue:
This daily chart for SWELLUSDT suggests that a bottoming formation has completed, and a new bullish trend is emerging, with significant upside potential.
Analysis:
Market Structure Shift: A key "Bearish Choch" (Change of Character) is indicated on the chart, signaling that the previous downtrend has likely reversed. Since hitting the low at $0.00700, the price has been establishing a series of higher lows, which is a foundational element of a new uptrend.
Accumulation and Support: The price has been consolidating in an ascending channel, finding consistent support along the lower trendline and the EMA 20. This indicates a period of accumulation by buyers.
Indicator Confluence:
The middle indicator (a variant of RSI) is also trending upwards within its own channel, recently bouncing off its support line. This mirrors and confirms the price action.
The bottom Innotrade MC Signal indicator has flashed a "B" (Buy) signal from the oversold territory and is projected to move higher, suggesting building bullish momentum.
Price Projection and Targets: The drawn black line illustrates a potential path for the price. It anticipates a rally from the current support level. The key objectives are:
TARGET 1: $0.01690. This level represents a significant structural resistance and a break of the previous high.
TARGET 2: $0.03068. This target aligns with a major "FVG" (Fair Value Gap) or price inefficiency, which often acts as a magnet for price.
Strategy:
Position: Long (Buy)
Entry: The current support zone around $0.0080 - $0.0085 is presented as a strategic entry area.
Targets: The primary targets for this bullish move are
0.01690
0.03068.
Conclusion:
With a confirmed market structure shift, strong support from multiple indicators, and clear upside targets, SWELLUSDT presents a compelling bullish setup. The current price level offers an opportunity to enter a potential new uptrend with significant room for growth.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and manage risk appropriately.
This daily chart for SWELLUSDT suggests that a bottoming formation has completed, and a new bullish trend is emerging, with significant upside potential.
Analysis:
Market Structure Shift: A key "Bearish Choch" (Change of Character) is indicated on the chart, signaling that the previous downtrend has likely reversed. Since hitting the low at $0.00700, the price has been establishing a series of higher lows, which is a foundational element of a new uptrend.
Accumulation and Support: The price has been consolidating in an ascending channel, finding consistent support along the lower trendline and the EMA 20. This indicates a period of accumulation by buyers.
Indicator Confluence:
The middle indicator (a variant of RSI) is also trending upwards within its own channel, recently bouncing off its support line. This mirrors and confirms the price action.
The bottom Innotrade MC Signal indicator has flashed a "B" (Buy) signal from the oversold territory and is projected to move higher, suggesting building bullish momentum.
Price Projection and Targets: The drawn black line illustrates a potential path for the price. It anticipates a rally from the current support level. The key objectives are:
TARGET 1: $0.01690. This level represents a significant structural resistance and a break of the previous high.
TARGET 2: $0.03068. This target aligns with a major "FVG" (Fair Value Gap) or price inefficiency, which often acts as a magnet for price.
Strategy:
Position: Long (Buy)
Entry: The current support zone around $0.0080 - $0.0085 is presented as a strategic entry area.
Targets: The primary targets for this bullish move are
0.01690
0.03068.
Conclusion:
With a confirmed market structure shift, strong support from multiple indicators, and clear upside targets, SWELLUSDT presents a compelling bullish setup. The current price level offers an opportunity to enter a potential new uptrend with significant room for growth.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and manage risk appropriately.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.