In this Multichain technical analysis, we will examine the current price action, trading volume, key levels and indicators for MULTI-BTC. Multichain (MULTI) is a decentralized blockchain platform that enables the creation and management of multiple chains within a single network. This innovative approach allows for greater flexibility and customization, enabling developers to build and deploy a wide range of applications and use cases. With its unique multi-chain architecture, Multichain (MULTI) is poised to revolutionize the blockchain industry by providing a more scalable, secure, and interoperable network for users and developers alike.
Multichain Price Overview:
As of July 08, 2024, Multichain is trading at approximately 4e-05 BTC. Let’s dive into the detailed price action for MULTI-BTC:
| Metric | Value |
|---|---|
| Open (O) | 4e-05 |
| High (H) | 4e-05 |
| Low (L) | 4e-05 |
| Close (C) | 4e-05 |
| Volume (C) | 655.89 |
- Open (O): The opening price for today’s trading session was approximately 4e-05 BTC.
- High (H): Multichain reached a daily high of around 4e-05 BTC.
- Low (L): The daily low for MULTI-BTC was approximately 4e-05 BTC.
- Close (C): At the time of analysis, Multichain is trading near its daily close of 4e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 1.75% |
| 3D Change (%) | 10.50% |
| 7D Change (%) | -6.37% |
| 30D Change (%) | -17.77% |
| 90D Change (%) | -52.09% |
| YTD Change (%) | -15.17% |
Over the past three days, MULTIBTC has increased by approximately 10.50%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -6.37%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MULTIBTC maintaining a downward trend of approximately -17.77%, despite intermittent fluctuations. Examining the last 90 days, MULTIBTC has witnessed substantial decline of approximately -52.09%, reflecting strong long-term confidence. Year-to-date, MULTIBTC has steadily decreased by around -15.17%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Multichain Live Chart:
You can access a live price chart for MULTI-BTC 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 0.4667.
- Momentum score is -0.14342.
MULTI BTC Technical Analysis
Multichain Trading Volume:
The trading volume for Multichain (MULTI) over the past 24 hours has been insignificant, with approximately 655.89 BTC traded against MULTI. 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): MULTI is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Multichain is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MULTI-BTC is currently in the low zone, around 36.26568. This suggests that Multichain is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Multichain (MULTI-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Consider bearish sentiment for Multichain (MULTIBTC) at 3.67e-05 BTC with technical analysis, highlighting weakened support and cautionary indicators.
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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.