SWELL/USDT Tests 200 SMA, Bulls Eyeing Breakout

Moving Averages
200-period SMA (30-minute Chart): The current price is slightly below the 200 SMA, which is around 0.0404, suggesting a bearish trend. The 200 SMA may act as a resistance if the price attempts a recovery, indicating potential selling pressure around this level.

Relative Strength Index (RSI)
Current RSI: Approximately 63.81, indicating a slightly overbought condition. This could signal potential exhaustion of buying momentum, with the possibility of a pullback if the RSI enters overbought territory.

Moving Average Convergence Divergence (MACD)
MACD Line: 0.0005003
Signal Line: 0.0001251
Histogram: Positive, showing mild bullish momentum. The MACD suggests increasing buying pressure, but the price needs to surpass the 200 SMA to confirm a bullish trend.

Volume Analysis
Volume: Recent trading volume is around 57.776M, indicating moderate interest in the market. A significant rise in volume could support a breakout above the 200 SMA.

Support and Resistance Levels
Immediate Resistance: Around 0.0404, aligning with the 200 SMA. Breaking this level could indicate a stronger bullish move if supported by increased volume.

Local Support: Approximately 0.0385, which has previously provided support in recent price movements. A break below this level could lead to further bearish action.

Bullish/Bearish Scenarios

Bullish Scenario:

Break Above 0.0404 Resistance: A move above the 200 SMA with strong volume could confirm a bullish trend.

Bearish Scenario:

Drop Below 0.0385 Support: Breaking below this support with increased volume could signal further downside.