In this Beefy technical analysis, we will examine the current price action, trading volume, key levels and indicators for BIFI-USDT. Sure, here are three sentences about Beefy (BIFI) cryptocurrency: Beefy (BIFI) is a decentralized finance (DeFi) cryptocurrency that utilizes a novel proof-of-stake (PoS) consensus algorithm to facilitate fast and secure transactions. With its focus on sustainability and community engagement, Beefy has gained popularity among environmentally conscious investors and those seeking a more inclusive crypto experience. By leveraging the power of blockchain technology, Beefy aims to create a more equitable financial system for all users.
Beefy Price Overview:
As of October 03, 2023, Beefy is trading at approximately 365.1 USDT. Let’s dive into the detailed price action for BIFI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 369.2 |
| High (H) | 372.6 |
| Low (L) | 362.4 |
| Close (C) | 365.1 |
| Volume (C) | 256.53 |
- Open (O): The opening price for today’s trading session was approximately 369.2 USDT.
- High (H): Beefy reached a daily high of around 372.6 USDT.
- Low (L): The daily low for BIFI-USDT was approximately 362.4 USDT.
- Close (C): At the time of analysis, Beefy is trading near its daily close of 365.1 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.11% |
| 3D Change (%) | -0.65% |
| 7D Change (%) | 0.00% |
| 30D Change (%) | 21.74% |
| 90D Change (%) | -3.41% |
| YTD Change (%) | 5.64% |
Over the past three days, BIFIUSDT has fallen by approximately -0.65%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around 0.00%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BIFIUSDT maintaining an upward trend of approximately 21.74%, despite intermittent fluctuations. Examining the last 90 days, BIFIUSDT has witnessed substantial fall of approximately -3.41%, reflecting strong long-term confidence. Year-to-date, BIFIUSDT has steadily increased by around 5.64%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Beefy Live Chart:
You can access a live price chart for BIFI-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.81175.
- Momentum score is 0.21741.
BIFI USDT Technical Analysis
Beefy Trading Volume:
The trading volume for Beefy (BIFI) over the past 24 hours has been insignificant, with approximately 256.53 USDT traded against BIFI. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): BIFI is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Beefy is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BIFI-USDT is currently in the neutral zone, around 54.37028. This suggests that Beefy is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Beefy (BIFI-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
