In this Enzyme technical analysis, we will examine the current price action, trading volume, key levels and indicators for MLN-USDT. Enzyme (MLN) is a decentralized cryptocurrency that utilizes a unique consensus algorithm called “Proof of Stake with Recursive zk-SNARKs” to secure its network. This algorithm allows for faster transaction times and increased security compared to traditional proof of work algorithms. Enzyme also features a built-in decentralized exchange (DEX) and supports a variety of smart contract platforms, making it a versatile and powerful tool for decentralized applications.
Enzyme Price Overview:
As of October 02, 2023, Enzyme is trading at approximately 15.3 USDT. Let’s dive into the detailed price action for MLN-USDT:
- Open (O): The opening price for today’s trading session was approximately 15.77 USDT.
- High (H): Enzyme reached a daily high of around 15.81 USDT.
- Low (L): The daily low for MLN-USDT was approximately 15.22 USDT.
- Close (C): At the time of analysis, Enzyme is trading near its daily close of 15.3 USDT.
|1D Change (%)||-2.92%|
|3D Change (%)||-2.67%|
|7D Change (%)||0.33%|
|30D Change (%)||2.68%|
|90D Change (%)||-15.75%|
|YTD Change (%)||-19.39%|
Over the past three days, MLNUSDT has fallen by approximately -2.67%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 0.33%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MLNUSDT maintaining an upward trend of approximately 2.68%, despite intermittent fluctuations. Examining the last 90 days, MLNUSDT has witnessed substantial fall of approximately -15.75%, reflecting strong long-term confidence. Year-to-date, MLNUSDT has steadily decreased by around -19.39%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Enzyme Live Chart:
You can access a live price chart for MLN-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 1.14688.
- Momentum score is 0.02685.
MLN USDT Technical Analysis
Enzyme Trading Volume:
The trading volume for Enzyme (MLN) over the past 24 hours has been insignificant, with approximately 42,507.94 USDT traded against MLN. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
- 50-day Simple Moving Average (SMA): MLN is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Enzyme is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MLN-USDT is currently in the neutral zone, around 49.18721. This suggests that Enzyme is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Enzyme (MLN-USDT) is currently exhibiting signs of short-term bullish 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.
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.