aelf Price Analysis: Will ELF maintain above $0.12


  • aelf gain bullish momentum over the past week gaining 2.47%.
  • ELF/USD trades near $0.84.
  • aelf(ELF) records downward movement today.
  • The current trading volume of aelf is at $626,381,846.00.

27 April 2024 : In this article we will walk you through aelf price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for aelf, Is ELF a good investment? aelf support & resistance levels etc. But before diving deep into the ELF technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,318,824,903,425. The total trading volume stands at $61,520,430,972. Bitcoin shares 53.42 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $62,918.37 level after a decline of -2.36%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.12 percent reaching to $3,112.75 during the previous 24 hours.
While publishing this blog, BNB traded at $593.33, following a price change of -2.65%within the same time frame. SOL the native coin of Solana is down by -5.85 and currently trading at $135.86. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

aelf Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of aelf (ELF)

ELF Resistance Levels ELF Support Levels
Resistance Level 1 $0.13 Support Level 1 $0.12
Resistance Level 2 $0.14 Support Level 2 $0.12
Resistance Level 3 $0.14 Support Level 3 $0.11

aelf Performance

The daily chart of aelf shows that the ELF price has a downward movement with a -7.56% decrease in past 24 hours. The price value of the aelf (ELF) coin is standing at $0.84 with market capitalization $599,146,952.00 USD. ELF price changes 2.47% over the week while the trading volume is hovering around $626,381,846.00 USD.

aelf Price Analysis

ELF price analysis for 27 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the aelf.

Moving Averages Price Indicator
Simple Moving Average (10) 0.13 Buy
Exponential Moving Average (10) 0.13 Buy
Simple Moving Average (20) 0.13 Buy
Exponential Moving Average (20) 0.13 Buy
Simple Moving Average (50) 0.13 Buy
Exponential Moving Average (50) 0.13 Buy

The ELF/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. While ELF’s Williams %R indicator is at -57.831 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. RSI implying consolidation phase while trading at 42 and is trying to break out of the neutrality zone.

Conclusions

According to the aelf (ELF) price analysis, the bears have failed to take the market downwards, and as a result, we are likely to see the continuation of the bullish trend in the coming days.