Bithumb Ends Multichain Support for Swell Network
- Suspension of Services: Bithumb has announced that it will suspend deposits and withdrawals for the SWELL token on the Swell Chain starting at 2:00 a.m. UTC on June 2, which will impact users' ability to transact on that network and force holders to transfer assets before the deadline to avoid fund lockups.
- Risk Management Shift: This decision reflects a significant adjustment in Bithumb's risk management and network compatibility strategy, indicating a reassessment of multichain support that may affect user confidence in the exchange.
- Liquidity Concerns: Losing support from a major Korean exchange could lead to reduced liquidity and accessibility for the Swell Network, particularly in the Korean market, where users may be adversely affected by the lack of trading channels.
- Market Trend Warning: This change underscores a broader trend among centralized exchanges reassessing multichain support due to security concerns and network instability, reminding users to verify chain compatibility before depositing tokens to avoid potential transaction failures.
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Technical Analysis for SWELL
Technical Sentiment Analysis for Swell Network (SWELL). As of , Swell Network (SWELL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SWELL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SWELL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Swell Network (SWELL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.000151 | 0.000284 | 0.000574 | 0.00101 | 0.0013 | 0.00173 | 0.00202 |
| Fibonacci | 0.000284 | 0.000561 | 0.000732 | 0.00101 | 0.00129 | 0.00146 | 0.00173 |
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