Swerve Technical Analysis: SWRV Increases by 8.96% After a Bullish Run
SWRV Past Performance
From March to June 2022, SWRV has been experiencing constant price movement where the bulls and bears were battling to take control of the market. The candle sticks ended up forming a straight line which is an indication that the market is indecisive about the future direction.
Source: Trading View
Swerve Technical Analysis
According to the Swerve technical analysis, the current price is $0.3742 which marks a price rise of 8.96% in the last 24 hours. The technical analysis also suggests that the market is currently in a bullish trend as the price is above both the 50-day and 200-day moving averages. The Relative Strength Index (RSI) is currently at 68.8 which indicates that the market is neither overbought nor oversold.
The MACD is also currently in a bullish trend as the MACD line is above the signal line. The MACD bars are tall and green, indicating a bullish trend. The Bollinger bands are beginning to widen up which is an indication of increased volatility in the market. The support levels are $0.35, $0.33, and $0.31. The resistance levels are $0.39, $0.41, and $0.43.
Out of the 26 technical indicators, 16 show a buy signal, 9 holds, and 1 buy signal. The Oscillators show 2 buy signals, 8 holds, and 1 sell signal while the moving averages show 14 buys and 1 sell signal.
Overall, the technical indicators are currently suggesting that the market is in a bullish trend. However, it is important to note that the market has been consolidating for a while now and it looks like it is ready to move in either direction.
Swerve Upcoming trend
Based on the Swerve technical analysis, it is expected that the price of SWRV will continue to rise in the short term as the market is currently in a bullish trend. However, it is important to note that the market is relatively volatile and anything can happen in the cryptocurrency market. Therefore, traders should be cautious and monitor the market closely for any changes.
Long-term price predictions are always difficult to make, however, based on the current market conditions it is expected that the price of SWRV will continue to rise in the long term as well. This is because the cryptocurrency market is still in its early stages and there is a lot of room for growth. Therefore, investors should hold onto their SWRV tokens for the long term.
Conclusion
The technical indicators are currently suggesting that the market is in a bullish trend. However, it is important to note that the market has been consolidating for a while now and it looks like it is ready to move in either direction. Therefore, traders should be cautious and