Swarm Markets $SMT/USDT 1D chart - Opinions?Here is a technical analysis of the Swarm Markets (SMT/USDT) 1D chart on MEXC (Heikin Ashi candles):
📊 General Overview:
Pair: SMT/USDT
Chart Timeframe: 1 Day (Daily)
Exchange: MEXC
Candle Type: Heikin Ashi
Current Price: ~$0.056
Daily Change: +3.85%
Volume: Slight pickup recently
Indicators on chart: Market structure (CHoCH, BOS, EQH/QL), Liquidity Zones
🔍 Structure Breakdown:
🟥 Macro Trend: Bearish
Long-term downtrend from $0.450 → $0.050
Multiple Breaks of Structure (BOS) confirming continued bearish control.
CHoCH (Change of Character) attempts in April and May failed to flip structure sustainably.
📉 Bearish Continuation Pattern
After a brief sideways accumulation between March–May, price rejected at ~0.10 zone, which acted as resistance (EQH).
Repeated lower highs and lower lows = typical downtrend behavior.
Another BOS recently confirms the bearish continuation.
🧱 Support Zones
Current support (Weak Low): ~$0.0512
A critical area. If broken, may lead to new lows.
No major support until historical levels below $0.045, if selling continues.
🔴 Resistance Zones
Nearest major resistance: ~$0.065 - $0.075
Mid-term resistance: ~$0.10 - $0.13
Strong supply zone: ~$0.18 - $0.23 (historical breakdown level)
📊 Volume Analysis
No strong buying interest despite recent CHoCH attempts.
Volume spikes on sell-offs, weak during price recoveries = bearish bias.
🧠 Interpretation & Strategy:
🟠 Bearish Bias
Structure, price action, and volume suggest ongoing bearish momentum.
False breakouts and failed CHoCHs indicate weak bullish pressure.
🟢 Bullish Case (Speculative)
Only if the price holds above $0.0512 and breaks above $0.065–$0.075 with volume, then a short-term reversal could be forming.
Watch for CHoCH + Volume confirmation to consider a long setup.
🧱 Risk Zones
Below $0.050, very limited historical support = potential sharp drop.
Any long positions without confirmation = high-risk.
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Disclosures:
This analysis is for informational purposes only and is not financial advice. It does not constitute a recommendation to buy, sell, or trade any securities, cryptocurrencies, or stocks. Trading involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
