SWELL/USDT Bulls Are Gaining More Momentum

At the time of writing, the SWELL token stands in the second spot on the daily top crypto gainers list. The token currently holds a price increase of 11.10%. Meanwhile, there are indications suggesting that this market may experience even more price increases in the near future.

Swell Statistics

SWELL Current Price: $0.01112

Market Capitalization: $23.99M

Circulating Supply: 2.17B

Total Supply: 10B

CoinMarketCap Rank: 759

Key Price Levels

Resistance: $0.01250, $0.01500, $0.01750

Support: $0.01100, $0.01000, $0.00900

Swell Upside Momentum Strengthens

Despite the fact that the ongoing session has witnessed a notable downward contraction, the SWELL/USDT market largely maintains an upward trajectory. The last price candle has placed the current price of the token above the 20- and 50-day Moving Average (MA) lines.

This remains the case despite downward forces attempting to trim the gains during the session. At the same time, the Stochastic Rate of Change (SROC) indicator line is rising from below the equilibrium level. This gives the impression that price action has an upward bearing.

SWELL/USDT Stays in Pursuit of the $0.01200 Price Level

Looking at the Swell token’s price action on the 4-hour chart, it is evident that the market is steering toward the nearby psychological resistance level at the $0.01200 price mark. However, the last price candle on this chart is red, indicating a slight downward retracement.

Nevertheless, trading activity remains above all the MA lines on the chart. Similarly, the SROC indicator lines are still above the equilibrium level, and the line remains green. This consequently affirms the possibility of price action progressing towards $0.01200 and higher subsequently.

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