Chainswap Bulls on the Verge of a Breakout or Collapse?

8 set

Yello, Paradisers! Are you ready to catch the next big move in #Chainswap? Let’s break it down because this could be a crucial turning point you don’t want to miss.

💎#CSWAPUSDT has been stuck inside a major falling wedge pattern since its peak back in April 2024. Right now, the price has retraced back to its base region — the very area where the previous major rally kicked off.

💎Chainswap is holding its support levels firmly. This ongoing structure hints at a potential triple-tap bottom, which could be the beginning of an accumulation phase. But, before you get too excited, there are some critical hurdles to watch out for.

💎Bulls are facing significant resistance between the 0.0268 and 0.0290 levels. This range is marked by both the descending wedge’s resistance and the EMA-50 level, which has been a strong barrier since May. Despite several attempts, bulls haven’t been able to break above it. However, there’s a growing indication of potential weakness in this dynamic level, especially after the recent tests.

💎If the key level of 0.0290 is breached, price could see a surge towards 0.03615, followed by a potential run-up to the major resistance zone between 0.047 and 0.055. This is where major retracements could conclude, hence a level that warrants caution.

💎Chainswap has solid support between 0.021 and 0.0195. As long as these levels hold, the bulls maintain the upper hand. The critical turnaround point remains 0.0290, where surpassing the EMA-50 could set the stage for a bullish breakout.

Remember, Paradisers, patience and strategy are key!

MyCryptoParadise
iFeel the success🌴

11 set

Trade attivo

Boom! #CSWAP is doing just what we said. Up 24.03% and looking good!

Price needs to break the key resistance of EMA-50 to get further aggressive.

26 set

Trade chiuso: obiettivo raggiunto

Another win! #Chainswap up 149.72%, as forecasted!