In this aelf technical analysis, we will examine the current price action, trading volume, key levels and indicators for ELF-USDT. aelf is an open-source blockchain platform that utilizes parallel processing technology to achieve high transaction throughput and low latency. Its native cryptocurrency, ELF, is used as a form of payment for transactions and computational services within the aelf network. With its unique architecture and innovative features, aelf aims to provide a more efficient and scalable blockchain ecosystem for a wide range of applications.
aelf Price Overview:
As of May 10, 2024, aelf is trading at approximately 0.5493 USDT. Let’s dive into the detailed price action for ELF-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.5509 |
| High (H) | 0.5524 |
| Low (L) | 0.5433 |
| Close (C) | 0.5493 |
| Volume (C) | 363,560.40 |
- Open (O): The opening price for today’s trading session was approximately 0.5509 USDT.
- High (H): aelf reached a daily high of around 0.5524 USDT.
- Low (L): The daily low for ELF-USDT was approximately 0.5433 USDT.
- Close (C): At the time of analysis, aelf is trading near its daily close of 0.5493 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.29% |
| 3D Change (%) | 1.05% |
| 7D Change (%) | -1.86% |
| 30D Change (%) | -12.29% |
| 90D Change (%) | -7.49% |
| YTD Change (%) | -5.52% |
Over the past three days, ELFUSDT has increased by approximately 1.05%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -1.86%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ELFUSDT maintaining a downward trend of approximately -12.29%, despite intermittent fluctuations. Examining the last 90 days, ELFUSDT has witnessed substantial drop of approximately -7.49%, reflecting strong long-term confidence. Year-to-date, ELFUSDT has steadily dropped by around -5.52%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
aelf Live Chart:
You can access a live price chart for ELF-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 0.49929.
- Momentum score is -0.0177.
ELF USDT Technical Analysis
aelf Trading Volume:
The trading volume for aelf (ELF) over the past 24 hours has been insignificant, with approximately 363,560.40 USDT traded against ELF. 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): ELF is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): aelf is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ELF-USDT is currently in the neutral zone, around 45.81162. This suggests that aelf is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
aelf (ELF-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.
Anticipate potential setbacks for aelf (ELFUSDT) at 5.49e-01 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.
Discover even more by checking out our comprehensive analysis on ELF BTC aelf Technical Analysis — a perfect follow-up if you enjoyed 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.