Detailed analysis of the BSW asset 🐕$BSW
🔶 Current situation:
The daily chart of the BSWUSDT token shows that the asset is showing signs of a trend reversal, strengthening at $0.0852 (+11.37% over the past day). The asset has shown impressive growth over the past few weeks, reaching around $0.1200, but then corrected, maintaining interest in the current support levels.
🔶 Technical indicators:
Moving Averages: The 7-day moving average is at $0.0735, which is below the current price, indicating an uptrend in the short term, while the 25-day moving average at $0.0796 is acting as support for the price.
Ichimoku indicator: The price is in the Ichimoku cloud, which usually indicates uncertainty in the market, but at the same time can serve as a signal for the beginning of a new uptrend. The upper boundary of the cloud is located at $0.0860, and the lower one is at $0.0796. A breakout above the cloud will be a significant signal for further growth.
Bollinger Bands: The current price has gone beyond the upper Bollinger band ($0.0852), which may indicate temporary overbought conditions for the asset, but also confirms a strong upward movement. The lower band is located at $0.0735 and will serve as support for a possible correction.
SAR indicator (Parabolic SAR): SAR at $0.0735 continues to show support for the upward movement, which also speaks in favor of further price growth.
🔶 Resistance and support zones:
The main resistance zones are at $0.0860, $0.1024 and $0.1200. For BSW to continue growing, it is important to break through these levels, which will open the way to new heights.
Key support zones can be seen at $0.0735 and $0.0701. These levels are important for maintaining the current uptrend.
🔶 Body shaping: 🐕
The chart also shows a descending triangle, which forms after a sharp price jump. Usually, such a pattern indicates a possible continuation of the trend, especially if its upper border is broken.
🔶 Growth Prospects: 🐕
If the asset manages to overcome the resistance zone at $0.0860 and consolidate above, then further growth to $0.1024 and $0.1200 can potentially be expected. At the same time, a breakout of the support zone at $0.0735 may lead to testing the lower levels at $0.0701, which should also be considered an important signal for short-term traders.
🔶 Conclusion: 🐕
Active #BSW is showing a strong short-term uptrend with key support and resistance levels. Investors should closely watch for a break of the resistance at $0.0860 to confirm further gains. However, a short-term correction to $0.0735 is possible, which could provide new entry opportunities.
