CHSB Technical Analysis – Riding High Now Expected to Come Down
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CHSB Technical Analysis – Riding High Now Expected to Come Down

April 5, 2021      Ankita Awasthi

In our new technical analysis, Swissborg is a blockchain network that uses advanced MPC cryptography and identity verification to ensure high levels of transaction security. It allows investors to trade in digital currencies using 15 fiat currencies. CHSB is the prime governance token of this network.

Past Performance

On March 29, 2021, CHSB started trading at $1.17. As of April 4, 2021, the closing price of CHSB is $1.11. Thus, in the past week, CHSB price has declined by approximately 5%. In the last 24 hours, CHSB is trading between $1.09-$1.12.

CHSB Price Analysis

https://www.tradingview.com/x/SOixhNzt/

Day-Ahead and Tomorrow

Currently, CHSB is trading at $1.11. The price has dropped from the opening price of $1.12. Thus, the market looks bearish.

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The MACD and signal lines have just turned positive. A bullish crossover by the MACD line over the signal line has occurred too. Thus, we can expect the price to go up as the market momentum has turned bullish.

The OBV indicator has started falling. Thus, selling volumes are higher than buying volumes. High selling pressures will exert downward pressure on the CHSB price. Hence, the price is likely to decline further.

Currently, the RSI indicator is at 56%. It has fallen from the 70% mark. Thus, selling pressures have become stronger. Hence, we can expect the price to drop further.

CHSB Technical Analysis

As per technical analysis, Currently, the price has fallen below the Fibonacci pivot point of $1.106. It is soon likely to fall below the first support level of $1.09, as most of the indicators have given bearish signals.

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The price has tested and fallen below the 50% FIB retracement level of $1.105. If by day end, the price tests and falls below the 76.4% FIB retracement level of $1.09, then a downtrend has set in. In that case, we may expect the bear-run to continue tomorrow as well.

#CHSB #Swissborg
Ankita Awasthi
Ankita Awasthi

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.