In this Spell technical analysis, we will examine the current price action, trading volume, key levels and indicators for SPELL-USDT. Sure, here are three sentences about Spell (SPELL) cryptocurrency: Spell is a decentralized blockchain-based 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 spell-casting mechanism, Spell allows developers to build complex decentralized applications (dApps) and decentralized finance (DeFi) protocols, opening up new possibilities for the future of web3.0. By leveraging the power of blockchain technology and smart contracts, Spell is poised to revolutionize the way we interact with digital assets and create a more secure and open financial system.
Spell Price Overview:
As of October 03, 2023, Spell is trading at approximately 0.00048 USDT. Let’s dive into the detailed price action for SPELL-USDT:
- Open (O): The opening price for today’s trading session was approximately 0.00049 USDT.
- High (H): Spell reached a daily high of around 0.0005 USDT.
- Low (L): The daily low for SPELL-USDT was approximately 0.00048 USDT.
- Close (C): At the time of analysis, Spell is trading near its daily close of 0.00048 USDT.
|1D Change (%)||-2.49%|
|3D Change (%)||-2.47%|
|7D Change (%)||-3.97%|
|30D Change (%)||24.69%|
|90D Change (%)||-2.09%|
|YTD Change (%)||-9.34%|
Over the past three days, SPELLUSDT has declined by approximately -2.47%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -3.97%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SPELLUSDT maintaining an upward trend of approximately 24.69%, despite intermittent fluctuations. Examining the last 90 days, SPELLUSDT has witnessed substantial fall of approximately -2.09%, reflecting strong long-term confidence. Year-to-date, SPELLUSDT has steadily dropped by around -9.34%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Spell Live Chart:
You can access a live price chart for SPELL-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 1.18382.
- Momentum score is 0.24694.
SPELL USDT Technical Analysis
Spell Trading Volume:
The trading volume for Spell (SPELL) over the past 24 hours has been insignificant, with approximately 2,061,057,371.00 USDT traded against SPELL. 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): SPELL is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Spell is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for SPELL-USDT is currently in the neutral zone, around 50.86151. This suggests that Spell is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Spell (SPELL-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.