Swell Network (SWELL/USD) Update: Bears Reinforce $0.012 as Key Resistance
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The Swell Network has once again faced rejection at the $0.012 price level, firmly establishing it as a significant resistance zone. Earlier in today’s trading session, the market experienced a strong upward move; however, the rally was halted precisely at this critical threshold.
While there are signs of renewed bullish intent, sellers continue to dominate at $0.012, repeatedly pushing back attempts to break through. This persistent rejection underscores the strength of bearish control at this level.
Swell Network (SWELL/USD) Market Data
- SWELL/USD Price Now: $0.011
- SWELL/USD Market Cap: $28.9 million
- SWELL/USD Circulating Supply: 2.6 billion SWELL
- SWELLADA/USD Total Supply: 10 billion SWELL
- SWELL/USD CoinMarketCap Ranking: #763
Key Levels
- Resistance: $0.012, $0.013, and $0.014
- Support: $0.010, $0.09, and $0.08
Swell Network (SWELL/USD) Daily Chart: Bulls Maintain Slight Edge Despite Stubborn $0.012 Resistance
Following today’s rejection at the $0.010 price level, the Swell Network remains in a consolidation phase. However, bulls still hold a slight advantage, with price action maintaining a position above the 20-day moving average.
In recent sessions, traders have made repeated attempts to push and sustain prices above the $0.012 resistance, but these efforts have consistently failed. Despite this crypto signal, strong support has been preserved at the $0.010 level. While bullish momentum persists, it currently lacks the strength to drive the market decisively beyond the $0.012 threshold.
SWELL/USD 4-Hour Chart: Swell Market Poised for Breakout as Price Consolidates Near $0.011
On the 4-hour chart, SWELL/USD shows market forces converging around the $0.011 price level, capturing traders’ attention. This tight consolidation reflects an ongoing standoff between buyers and sellers. If this equilibrium persists, volatility may contract further, potentially setting the stage for a sharp market move. Based on recent performance, there is a possibility that the price could soon break to the upside, with a potential push above the $0.012 resistance and the ability to sustain gains beyond that level.
