- Entangle crypto has less than 2% of its data in circulation.
- The price of the crypto has witnessed only 14 green days in the last 30 days.
Entangle is a platform that provides a wide range of tools for blockchain connectivity and asset tokenization. Key features include Photon Messaging, Universal Data Feeds, e-VRF, and Liquid Vaults. The platform, founded by Faisal Mehrban, emphasizes developer customizability and operates on a Proof-of-Collateral system. It has garnered significant investor interest and partnerships.
The market cap value for the Entangle crypto is $27.405M and the price of the crypto has declined by 6.86% in the last 24 hours. Also, the market cap ranking of the crypto is #2567 as per CoinMarket.
The trading volume of the crypto has advanced by 30.05% in the last 24 hours, resulting in a traded value of $4.142M. Also, the ranking of the traded volume for the crypto is #705 and the volume/market cap ratio of the crypto is 14.97%.
The self-reported circulating supply of the Entangle crypto is 21.565M NGL which is 2.16% of the maximum supply. The total supply and the maximum supply of the crypto is the same. This further results in a maximum supply of 1.0 billion NGL. Also, the fully diluted market cap of the crypto is $1.307 billion.
The all-time high price ever recorded for the crypto is $2.83 which was achieved on March 21, 2024. Since then, the price of the crypto declined by 55% and the all-time low price of the is $1.21. The price of the crypto has advanced by just 5.4% from its all-time low price.
NGL crypto price is highly volatile as per CoinCodex resulting in a volatility of 15.14%. The sentiment of the crypto is also bearish and the fear and greed index for the crypto is indicating extreme greed.
NGL Crypto Technical Analysis
The price of the NGL crypto is consistently declining following a declining wedge pattern and lower low swings on the chart. The candlesticks formed on the chart are further indicating weakness in the price of the crypto. This also indicates sellers dominance in the price of the crypto.
The NGL crypto price further is leading towards the lower levels and might continue to slip to lower levels.
NGL/USDT Chart by TradingView
On the 4H chart of the NGL crypto, the EMA depict a bearish trend as the crypto’s price is currently trading below the EMAs. Additionally, the 20-day and the 50-day EMA are trading in a bearish cross on the charts.
The MACD indicator further is giving a strong sell signal as the MACD and the signal line are trading below the zero level, followed by a bearish crossover. The histograms on the chart also support for bearish trend.
Moreover RSI for the crypto recently hit the oversold zones and is currently trading at the level of 38.3. This indicates a strong decline in the momentum of the crypto and the possibility of further profit booking.
Summary
Investing in Entangle poses risks due to various factors: less than 2% data circulation, frequent price declines, and bearish technical indicators. Despite offering comprehensive blockchain tools, its declining wedge pattern and weakening price suggest potential for further downside. High volatility, extreme greed sentiment, and limited historical performance underscore the risky nature of NGL crypto.
Technical Levels:
- Support levels: $0.04150 and $1.0
- Resistance levels: $2.330 and $2.840
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.