In this Beefy technical analysis, we will examine the current price action, trading volume, key levels and indicators for BIFI-USDT. Beefy (BIFI) is a decentralized finance (DeFi) token that seeks to revolutionize the way users interact with their digital assets. By leveraging blockchain technology and smart contracts, Beefy provides users with a secure and transparent platform for managing their cryptocurrency holdings. With its innovative features and user-friendly interface, Beefy is poised to become a leading player in the DeFi space.
Beefy Price Overview:
As of May 03, 2024, Beefy is trading at approximately 397.5 USDT. Let’s dive into the detailed price action for BIFI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 389.5 |
| High (H) | 403.9 |
| Low (L) | 383.4 |
| Close (C) | 397.5 |
| Volume (C) | 3,873.53 |
- Open (O): The opening price for today’s trading session was approximately 389.5 USDT.
- High (H): Beefy reached a daily high of around 403.9 USDT.
- Low (L): The daily low for BIFI-USDT was approximately 383.4 USDT.
- Close (C): At the time of analysis, Beefy is trading near its daily close of 397.5 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.05% |
| 3D Change (%) | 7.37% |
| 7D Change (%) | 1.87% |
| 30D Change (%) | 1.25% |
| 90D Change (%) | 23.03% |
| YTD Change (%) | 3.60% |
Over the past three days, BIFIUSDT has risen by approximately 7.37%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 1.87%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BIFIUSDT maintaining an upward trend of approximately 1.25%, despite intermittent fluctuations. Examining the last 90 days, BIFIUSDT has witnessed substantial rise of approximately 23.03%, reflecting strong long-term confidence. Year-to-date, BIFIUSDT has steadily appreciated by around 3.60%, 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 0.68671.
- Momentum score is 0.08222.
BIFI USDT Technical Analysis
Beefy Trading Volume:
The trading volume for Beefy (BIFI) over the past 24 hours has been insignificant, with approximately 3,873.53 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 below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Beefy is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BIFI-USDT is currently in the neutral zone, around 50.66827. 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 bearish 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.
Assess Beefy’s (BIFIUSDT) risks at 397.50 USDT with bearish technical analysis, highlighting weakened support and cautionary indicators.
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.