TapSwap price prediction: Mixed signals leave traders speculating

  • The TapSwap outlook was weak and bearish at press time despite the weekend’s volatility.
  • The volume indicator has shown some hope, but the bulls will need to flip this level to support.

TapSwap [TAPSWAP] It saw a lot of volatility on Sunday, May 26. It rose from $0.0098 to $0.011, a gain of 12.4% within an hour, then fell to $0.00974 a few hours later.

This volatility is common in small-cap coins that don’t have a lot of trading volume behind them. What is the short-term TapSwap price prediction based on technical analysis?

Last week’s trend was worrying

TapSwap 1-hour chart

Source: TapSwap/USD on GeckoTerminal

The price action on the 1-hour chart showed a strong bearish trend over the past week. The price has set a series of lower highs after reaching the resistance of the $0.011 area on May 22.

The RSI remained consistently below the neutral 50 level over the past few days, highlighting bearish momentum.

At press time, TAPSWAP was retreating towards the $0.0095 support area highlighted by the red box. The OBV has dropped downwards over the past four days, indicating an increase in selling pressure.

However, CMF refuted this conclusion and caused a disturbance in the TapSwap price prediction.

The CMF reading of +0.3 indicated significant capital inflows into the market and meant that buyers were in control. The inconsistency between volume indicators was a cause of concern for traders.

ADX showed a strong uptrend at 40 level.

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With Bitcoin [BTC] After breaking above the local resistance at $67k last week, TAPSWAP could see a recovery across the market in the coming days.

In conclusion, the TapSwap price prediction is that a bounce from the $0.0095 support is likely based on the price action.

Disclaimer: The information presented is not financial, investment, trading or other type of advice and is solely the opinion of the author.


Disclaimer : The content in this article is for educational and informational purposes only.

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