In this BitShares technical analysis, we will examine the current price action, trading volume, key levels and indicators for BTS-USDT. BitShares (BTS) is a decentralized cryptocurrency that utilizes a distributed ledger technology to facilitate the transfer of value without the need for intermediaries. Its unique features include smart contracts and decentralized governance, allowing for more efficient and secure transactions. BitShares has also implemented a novel consensus algorithm called “delegated proof of stake,” which enables faster transaction confirmation times compared to traditional proof of work algorithms.
BitShares Price Overview:
As of October 02, 2023, BitShares is trading at approximately 0.00971 USDT. Let’s dive into the detailed price action for BTS-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.00935 |
| High (H) | 0.00984 |
| Low (L) | 0.00926 |
| Close (C) | 0.00971 |
| Volume (C) | 102,518,718.20 |
- Open (O): The opening price for today’s trading session was approximately 0.00935 USDT.
- High (H): BitShares reached a daily high of around 0.00984 USDT.
- Low (L): The daily low for BTS-USDT was approximately 0.00926 USDT.
- Close (C): At the time of analysis, BitShares is trading near its daily close of 0.00971 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 3.74% |
| 3D Change (%) | 5.89% |
| 7D Change (%) | 6.24% |
| 30D Change (%) | 9.72% |
| 90D Change (%) | 5.31% |
| YTD Change (%) | 15.87% |
Over the past three days, BTSUSDT has increased by approximately 5.89%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 6.24%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BTSUSDT maintaining an upward trend of approximately 9.72%, despite intermittent fluctuations. Examining the last 90 days, BTSUSDT has witnessed substantial rise of approximately 5.31%, reflecting strong long-term confidence. Year-to-date, BTSUSDT has steadily appreciated by around 15.87%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
BitShares Live Chart:
You can access a live price chart for BTS-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 0.22717.
- Momentum score is 0.09718.
BTS USDT Technical Analysis
BitShares Trading Volume:
The trading volume for BitShares (BTS) over the past 24 hours has been significant, with approximately 102,518,718.20 USDT traded against BTS. 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): BTS is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): BitShares is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BTS-USDT is currently in the high zone, around 55.50484. This suggests that BitShares is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
BitShares (BTS-USDT) is currently exhibiting signs of short-term bullish 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 high RSI and significant trading volume are high signals for potential upward 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.
