In this Multichain technical analysis, we will examine the current price action, trading volume, key levels and indicators for MULTI-USDT. 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 users to tailor their blockchain experience to specific use cases and applications. With Multichain, developers can build and deploy a wide range of decentralized applications (dApps) with ease, making it an attractive option for those looking to leverage the power of blockchain technology.
Multichain Price Overview:
As of July 08, 2024, Multichain is trading at approximately 0.834 USDT. Let’s dive into the detailed price action for MULTI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.954 |
| High (H) | 0.96 |
| Low (L) | 0.803 |
| Close (C) | 0.834 |
| Volume (C) | 831,726.31 |
- Open (O): The opening price for today’s trading session was approximately 0.954 USDT.
- High (H): Multichain reached a daily high of around 0.96 USDT.
- Low (L): The daily low for MULTI-USDT was approximately 0.803 USDT.
- Close (C): At the time of analysis, Multichain is trading near its daily close of 0.834 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -12.39% |
| 3D Change (%) | -32.31% |
| 7D Change (%) | -34.07% |
| 30D Change (%) | -47.25% |
| 90D Change (%) | -59.92% |
| YTD Change (%) | -54.40% |
Over the past three days, MULTIUSDT has plummeted by approximately -32.31%, a stark indication of increased market volatility. This downward trend continued throughout the week, with a loss of around -34.07%, suggesting a decline in investor interest. A 30-day analysis provides a more comprehensive perspective, revealing a consistent downward trend of approximately -47.25%. Looking further back, MULTIUSDT has experienced a substantial decrease of around -59.92% over the past 90 days, reflecting a significant loss of long-term confidence. Year-to-date, MULTIUSDT has steadily depreciated by approximately -54.40%.
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 1.97579.
- Momentum score is -0.65221.
MULTI USDT Technical Analysis
Multichain Trading Volume:
The trading volume for Multichain (MULTI) over the past 24 hours has been insignificant, with approximately 831,726.31 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 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-USDT is currently in the low zone, around 37.49872. This suggests that Multichain is in bearish territory.
Analysis from TradingView:
Our Key Takeaways: Multichain (MULTI-USDT) is currently experiencing short-term bearish momentum, with key support and resistance levels drawing attention. 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 indicating a potential downward movement.
Navigate Multichain’s (MULTIUSDT) potential downturns at 8.34e-01 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.
Don’t skip our thorough exploration of MULTI BTC Multichain 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.