In this MultiversX technical analysis, we will examine the current price action, trading volume, key levels and indicators for EGLD-USDT. MultiversX is a decentralized platform that leverages blockchain technology to provide a secure and transparent ecosystem for various industries. With its unique features such as interoperability and scalability, MultiversX enables seamless interactions between different blockchains and traditional systems. By utilizing the power of decentralized finance (DeFi), MultiversX empowers users to access a wide range of financial services and tools within a single platform.
MultiversX Price Overview:
As of May 12, 2024, MultiversX is trading at approximately 39.08 USDT. Let’s dive into the detailed price action for EGLD-USDT:
| Metric | Value |
|---|---|
| Open (O) | 39.21 |
| High (H) | 39.94 |
| Low (L) | 38.88 |
| Close (C) | 39.08 |
| Volume (C) | 39,814.00 |
- Open (O): The opening price for today’s trading session was approximately 39.21 USDT.
- High (H): MultiversX reached a daily high of around 39.94 USDT.
- Low (L): The daily low for EGLD-USDT was approximately 38.88 USDT.
- Close (C): At the time of analysis, MultiversX is trading near its daily close of 39.08 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.51% |
| 3D Change (%) | -4.19% |
| 7D Change (%) | -6.15% |
| 30D Change (%) | -10.04% |
| 90D Change (%) | -32.49% |
| YTD Change (%) | -42.44% |
Over the past three days, EGLDUSDT has decreased by approximately -4.19%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -6.15%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with EGLDUSDT maintaining a downward trend of approximately -10.04%, despite intermittent fluctuations. Examining the last 90 days, EGLDUSDT has witnessed substantial drop of approximately -32.49%, reflecting strong long-term confidence. Year-to-date, EGLDUSDT has steadily dropped by around -42.44%, 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-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 0.43072.
- Momentum score is -0.0985.
EGLD USDT Technical Analysis
MultiversX Trading Volume:
The trading volume for MultiversX (EGLD) over the past 24 hours has been insignificant, with approximately 39,814.00 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 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-USDT is currently in the low zone, around 40.63936. This suggests that MultiversX is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
MultiversX (EGLD-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 low RSI and insignificant trading volume are low signals for potential downward movement.
Understand MultiversX’s (EGLDUSDT) challenges at 39.08 USDT with detailed bearish technical analysis, highlighting weakened support and cautionary indicators.
Missing our detailed breakdown on EGLD BTC MultiversX Technical Analysis would be a lost opportunity if you found value in 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.