In this Multichain technical analysis, we will examine the current price action, trading volume, key levels and indicators for MULTI-USDT. Sure, here are three sentences about Multichain (MULTI) cryptocurrency: Multichain (MULTI) is a decentralized blockchain platform that enables the creation of multiple independent chains within a single network, allowing for greater flexibility and scalability. With its unique multi-chain architecture, Multichain supports a wide range of use cases, from decentralized finance (DeFi) to gaming and social media platforms. By leveraging the power of blockchain technology, Multichain aims to provide a more secure, transparent, and interoperable ecosystem for users and developers alike.
Multichain Price Overview:
As of October 03, 2023, Multichain is trading at approximately 2.697 USDT. Let’s dive into the detailed price action for MULTI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 2.439 |
| High (H) | 2.86 |
| Low (L) | 2.362 |
| Close (C) | 2.697 |
| Volume (C) | 1,655,863.69 |
- Open (O): The opening price for today’s trading session was approximately 2.439 USDT.
- High (H): Multichain reached a daily high of around 2.86 USDT.
- Low (L): The daily low for MULTI-USDT was approximately 2.362 USDT.
- Close (C): At the time of analysis, Multichain is trading near its daily close of 2.697 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 10.58% |
| 3D Change (%) | 10.85% |
| 7D Change (%) | 3.69% |
| 30D Change (%) | 161.59% |
| 90D Change (%) | -13.56% |
| YTD Change (%) | -39.39% |
Over the past three days, MULTIUSDT has risen by approximately 10.85%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 3.69%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MULTIUSDT maintaining an upward trend of approximately 161.59%, despite intermittent fluctuations. Examining the last 90 days, MULTIUSDT has witnessed substantial decline of approximately -13.56%, reflecting strong long-term confidence. Year-to-date, MULTIUSDT has steadily depreciated by around -39.39%, 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-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 4.16325.
- Momentum score is 1.61591.
MULTI USDT Technical Analysis
Multichain Trading Volume:
The trading volume for Multichain (MULTI) over the past 24 hours has been insignificant, with approximately 1,655,863.69 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Multichain is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MULTI-USDT is currently in the neutral zone, around 53.92562. This suggests that Multichain is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Multichain (MULTI-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.
