In this Biswap technical analysis, we will examine the current price action, trading volume, key levels and indicators for BSW-USDT. Biswap (BSW) is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm, allowing for fast and secure transactions without the need for high energy consumption. Biswap’s unique staking mechanism rewards users with a portion of the transaction fees for securing the network, providing an incentive for users to hold onto their coins rather than selling them. With its innovative consensus algorithm and reward system, Biswap has gained popularity among cryptocurrency enthusiasts and investors alike.
Biswap Price Overview:
As of September 22, 2023, Biswap is trading at approximately 0.0633 USDT. Let’s dive into the detailed price action for BSW-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0644 |
| High (H) | 0.0646 |
| Low (L) | 0.063 |
| Close (C) | 0.0633 |
| Volume (C) | 10,880,471.40 |
- Open (O): The opening price for today’s trading session was approximately 0.0644 USDT.
- High (H): Biswap reached a daily high of around 0.0646 USDT.
- Low (L): The daily low for BSW-USDT was approximately 0.063 USDT.
- Close (C): At the time of analysis, Biswap is trading near its daily close of 0.0633 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.01% |
| 3D Change (%) | 1.44% |
| 7D Change (%) | 0.00% |
| 30D Change (%) | -3.51% |
| 90D Change (%) | -31.42% |
| YTD Change (%) | -61.43% |
Over the past three days, BSWUSDT has increased by approximately 1.44%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around 0.00%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BSWUSDT maintaining a downward trend of approximately -3.51%, despite intermittent fluctuations. Examining the last 90 days, BSWUSDT has witnessed substantial decline of approximately -31.42%, reflecting strong long-term confidence. Year-to-date, BSWUSDT has steadily dropped by around -61.43%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Biswap Live Chart:
You can access a live price chart for BSW-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.51526.
- Momentum score is -0.03506.
BSW USDT Technical Analysis
Biswap Trading Volume:
The trading volume for Biswap (BSW) over the past 24 hours has been insignificant, with approximately 10,880,471.40 USDT traded against BSW. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): BSW is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Biswap is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BSW-USDT is currently in the low zone, around 40.53567. This suggests that Biswap is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Biswap (BSW-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
