In this MultiversX technical analysis, we will examine the current price action, trading volume, key levels and indicators for EGLD-BTC. MultiversX (EGLD) is a decentralized finance (DeFi) platform that enables users to borrow, lend, and trade assets in a trustless and permissionless manner. The platform utilizes a novel algorithm called the “Ethereum-based Global Liquidity Protocol” (EGLP), which allows for efficient and secure transactions without the need for intermediaries. MultiversX has gained popularity among cryptocurrency enthusiasts due to its innovative approach to DeFi and its potential to democratize access to financial services.
MultiversX Price Overview:
As of September 22, 2023, MultiversX is trading at approximately 0.00095 BTC. Let’s dive into the detailed price action for EGLD-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00098 |
| High (H) | 0.00098 |
| Low (L) | 0.00095 |
| Close (C) | 0.00095 |
| Volume (C) | 2,750.24 |
- Open (O): The opening price for today’s trading session was approximately 0.00098 BTC.
- High (H): MultiversX reached a daily high of around 0.00098 BTC.
- Low (L): The daily low for EGLD-BTC was approximately 0.00095 BTC.
- Close (C): At the time of analysis, MultiversX is trading near its daily close of 0.00095 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.15% |
| 3D Change (%) | -0.73% |
| 7D Change (%) | 2.47% |
| 30D Change (%) | -4.50% |
| 90D Change (%) | -12.40% |
| YTD Change (%) | -51.79% |
Over the past three days, EGLDBTC has fallen by approximately -0.73%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 2.47%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with EGLDBTC maintaining a downward trend of approximately -4.50%, despite intermittent fluctuations. Examining the last 90 days, EGLDBTC has witnessed substantial decrease of approximately -12.40%, reflecting strong long-term confidence. Year-to-date, EGLDBTC has steadily decreased by around -51.79%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
MultiversX Live Chart:
You can access a live price chart for EGLD-BTC 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 0.41325.
- Momentum score is -0.04505.
EGLD BTC Technical Analysis
MultiversX Trading Volume:
The trading volume for MultiversX (EGLD) over the past 24 hours has been insignificant, with approximately 2,750.24 BTC traded against EGLD. 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): EGLD is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): MultiversX is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for EGLD-BTC is currently in the low zone, around 44.6141. This suggests that MultiversX is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
MultiversX (EGLD-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward 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.
