- ELF has been bullish since november.
- It is currently trading at $0.37 with a repulse of 0.8% in the last 24 hours.
- The token is down from it’s all-time high by 86.32%.
The token has been in an uptrend from the November month of last year where the price crossed above the 200-day EMA and became bullish since then the price has kept rising, the token marked its high of $0.40 in this bullish move on 18th Sep 2023.
It is currently trading with a fall in the trading volume by 61.2% in the last 24 hours.
The price could possibly break its high of this year if the market goes well and the volume of the token gets increased.
Also, If the price breaks below $0.37 which is a support for the price then we can fall to the levels of $0.32 and $0.27.
The token recorded its all-time high on 7th Jan 2018 where a single token was priced at $2.77.
- The present market of the token is $242.73M.
- It has a current circulating supply of 643.57M ELF which is 64.36% of its total supply.
- The 24-hour trading volume of the token is $9.82M.
SENTIMENT ANALYSIS :
The price of the token has increased by 0.075% and the total market volume has fallen by 60.96% in the last 24 hours time frame. The total social engagements surged by 385.6%. The total bullish sentiments recorded a rise of 166.7% in the last 24 hours.
Overall sentiment analysis of the token indicates that sentiments are on the bullish side but the volume is still decreasing and if the volume keeps on decreasing the price will significantly start to fall.
TECHNICAL ANALYSIS :
As we can see that the price of the token has almost surged by 140% after crossing the 200-day EMA. The token can surge further if the trading volume increases.
Also, The trading volume of the token has fallen 60% in the last 24 hours which shows that the price might decrease if the volume keeps on decreasing.
TECHNICAL INDICATORS SHOWS BULLISH PRICE ACTION
Relative Strength Index ( RSI )
The line of RSI is currently moving at 62.61 points and the SMA 14 line is moving at 65.04 points. The RSI is above the neutral level 50 which indicates the bullish trend of the price of the token. The RSI line has just crossed the SMA 14 line from above which can be bearish but the RSI line can also regain above the SMA 14 and continue further upward move.
Moving Average Convergence/Divergence ( MACD )
In MACD, The fast blue line moving average is above the average level zero and also moving above the red slow line moving average and the histogram shows increase in the volumes which shows the bullishness of the price.
AELF LIVE CHART :
CONCLUSION :
The price has been in a bullish scenario from last year. Currently the price is trading at $0.37 from where the price can surge and get to the price levels of $0.40 and $0.45. Also, If the volume of the token kept on falling then we will lose the bullish trend and we can fall to the levels of $0.32 and $0.27.
TECHNICAL LEVELS :
SUPPORT : $0.27 AND $0.28 WHICH IS THE LEVEL OF 200-DAY EMA.
RESISTANCE : $0.37, $0.40 AND $0.45
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.