Swell Network $SWELL is trading at approximately $0.013561, with a 24-hour trading volume of $11,257,063. The token has experienced a 5.95% decline in the past 24 hours. The circulating supply stands at 2,103,164,321 SWELL coins, with a maximum supply of 10,000,000,000 SWELL coins. citeturn0search0
Recent price action indicates that SWELL is exhibiting signs of potential volatility, with two possible paths emerging:
Scenario 1: Bullish Breakout
Upward Momentum: Recent price action has shown bullish tendencies with rising trading volume, indicating solid buying interest.
Key Resistance Levels: If the price pushes above the current level and sustains itself beyond $0.065000 and $0.070620, a major bullish breakout may be underway.
Trading Strategy: Bullish traders might consider a long position, setting a stop-loss just below the support level at $0.057917.
Scenario 2: Bearish Reversal
Double Top Pattern: A double top pattern appears to be forming near the $0.070620 resistance level, suggesting a bearish reversal if the price fails to break through.
Key Support Levels: If the price falls below the $0.057917 support level, it could decline further towards the next support at $0.045000.
Trading Strategy: Bearish traders might consider a short position with a stop-loss set above the recent high at $0.05929.
Suggested Trade Setups:
Long Position:
Entry Range: $0.0418265 – $0.0429500
Action: Buy near support levels
Stop Loss: Below $0.0418265
Take Profit (TP): $0.0436043, $0.0497920
Short Position:
Entry Range: $0.0436043 – $0.0497920
Action: Sell near resistance levels
Stop Loss: Above $0.0497920
Take Profit (TP): $0.0393989, $0.0418265
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