MLN USDT Enzyme Technical Analysis

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By Frans van Elst

Enzyme logo 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 platform that enables the creation and execution of smart contracts, providing users with a secure and transparent way to manage digital assets. With its innovative multi-chain architecture, Enzyme allows for interoperability between different blockchain networks, making it an attractive option for those looking to leverage the benefits of decentralized technology. By utilizing Enzyme’s modular design, developers can easily build and deploy customized smart contracts, further expanding the possibilities of what can be achieved with this powerful platform.

Enzyme Price Overview:

As of May 14, 2024, Enzyme is trading at approximately 19.71 USDT. Let’s dive into the detailed price action for MLN-USDT:

Receive signals of caution for potential Enzyme (MLNUSDT) downturns at 19.71 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.

Metric Value
Open (O) 20.52
High (H) 20.65
Low (L) 19.51
Close (C) 19.71
Volume (C) 30,579.18
  • Open (O): The opening price for today’s trading session was approximately 20.52 USDT.
  • High (H): Enzyme reached a daily high of around 20.65 USDT.
  • Low (L): The daily low for MLN-USDT was approximately 19.51 USDT.
  • Close (C): At the time of analysis, Enzyme is trading near its daily close of 19.71 USDT.
Metric Value
1D Change (%) -3.90%
3D Change (%) -8.15%
7D Change (%) -11.42%
30D Change (%) -9.79%
90D Change (%) 7.06%
YTD Change (%) -6.32%

Over the past three days, MLNUSDT has declined by approximately -8.15%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -11.42%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MLNUSDT maintaining a downward trend of approximately -9.79%, despite intermittent fluctuations. Examining the last 90 days, MLNUSDT has witnessed substantial rise of approximately 7.06%, reflecting strong long-term confidence. Year-to-date, MLNUSDT has steadily declined by around -6.32%, 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 0.44811.
  • Momentum score is -0.13286.

MLN USDT Technical Analysis

Enzyme Trading Volume:

The trading volume for Enzyme (MLN) over the past 24 hours has been insignificant, with approximately 30,579.18 USDT traded against MLN. 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): MLN is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Enzyme is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for MLN-USDT is currently in the low zone, around 44.22766. This suggests that Enzyme is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Enzyme (MLN-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.

Receive signals of caution for potential Enzyme (MLNUSDT) downturns at 19.71 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.

Don’t skip our thorough exploration of MLN BTC Enzyme Technical Analysis if you resonated with this post; it’s the perfect next step for deeper understanding.

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.

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