This technical analysis of Elrond (EGLD), traded on the USDT pair, delves into the current price action, trading volume, key levels, and indicators. Elrond is a decentralized platform built on blockchain technology, providing a secure and transparent ecosystem for various industries. Its unique features, including interoperability and scalability, enable seamless interactions between different blockchains and traditional systems. By harnessing the power of decentralized finance (DeFi), Elrond empowers users to access a wide range of financial services and tools within a single platform.
MultiversX Price Overview:
As of July 19, 2024, MultiversX is trading at approximately 35.33 USDT. Let’s dive into the detailed price action for EGLD-USDT:
| Metric | Value |
|---|---|
| Open (O) | 36.28 |
| High (H) | 36.29 |
| Low (L) | 35.14 |
| Close (C) | 35.33 |
| Volume (C) | 42,960.01 |
- Open (O): The opening price for today’s trading session was approximately 36.28 USDT.
- High (H): MultiversX reached a daily high of around 36.29 USDT.
- Low (L): The daily low for EGLD-USDT was approximately 35.14 USDT.
- Close (C): At the time of analysis, MultiversX is trading near its daily close of 35.33 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.59% |
| 3D Change (%) | -3.15% |
| 7D Change (%) | -0.95% |
| 30D Change (%) | 19.84% |
| 90D Change (%) | -20.50% |
| YTD Change (%) | -47.97% |
Over the past three days, EGLDUSDT has experienced a decline of approximately -3.15%, indicating increased market volatility. This downward trend continued throughout the week, with a loss of around -0.95%, suggesting that investor interest has waned. A 30-day analysis provides a more comprehensive perspective, revealing an upward trend of approximately 19.84%, despite occasional fluctuations. Looking back at the last 90 days, EGLDUSDT has witnessed a substantial decline of around -20.50%, reflecting a loss of long-term confidence. Year-to-date, EGLDUSDT has steadily depreciated by approximately -47.97%.
MultiversX Live Chart:
You can access a live price chart for EGLD-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 0.54832.
- Momentum score is 0.21451.
EGLD USDT Technical Analysis
MultiversX Trading Volume:
The trading volume for MultiversX (EGLD) over the past 24 hours has been insignificant, with approximately 42,960.01 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): MultiversX is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for EGLD-USDT is currently in the neutral zone, around 49.58373. This suggests that MultiversX is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
MultiversX (EGLD-USDT) is currently displaying short-term bullish momentum, with key support and resistance levels garnering attention. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Furthermore, the neutral RSI reading and insignificant trading volume are indicative of a sideways movement.
Explore MultiversX’s (EGLDUSDT) bullish trends at 35.33 USDT, supported by strong fundamentals and promising indicators, as revealed in technical analysis.
Unlock additional insights on EGLD BTC MultiversX Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of this post.
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.