Lorenzo Stroe
Independent Analyst
- After a brief and healthy pullback, CHSB/USD is back at it again and hit $0.156.
- The bulls have managed to defend the daily 12-EMA several times in a row.
SwissBorg is currently trading in a gigantic uptrend and it’s up by more than 1,463% since the beginning of 2020. CHSB is one of the best performing coins in 2020 and its trading volume continues to increase every day. THE CHSB/BTC clearly shows how SwissBorg is outperforming Bitcoin.
CHSB/USD daily chart
The strong bull rally was met with a strong pullback but far healthier than expected. Buyers have defended the daily 12-EMA four times in a row and the daily RSI has cooled off a little although it’s still in the overbought zone. From this point, bulls can either set a lower high compared to $0.1734 and create a daily equilibrium pattern or simply climb above the high and continue with the uptrend.
CHSB/USD 4-hour chart
The 4-hour chart is again in an uptrend and CHSB is trading above the 12-EMA at $0.137 and the 26-EMA at $0.133. Both EMAs were extremely close to a bear cross. The RSI is not overextended here and the MACD has turned bullish. The next resistance level is established at $0.1537 and $0.1696 as well as the absolute high at $0.1731.
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