thecoinrepublic.com
- 1 The Aelf asset price is exhibiting bullish features and can reach bigger levels in the coming sessions ahead.
- 2 The technical indicators for Aelf crypto are showing bullish momentum as MACD shows a bullish cross and the RSI took support on 14-SMA.
The Aelf crypto price action shows that the buyers were active with great momentum around November 2023. The crypto surged from $0.35000 to a high of $1.16000. At the top level, it formed a supply zone, which caused a strong buyer’s rejection and the price plunged and formed support at $0.48500.
At this support level, the price showed seller’s rejection which stopped the price from forming any new lows. The crypto has exhibited a sign of resurgence as its price rebounded from a pivotal level of around $0.48500 on the daily chart.
However, the momentum is low in the ELF crypto price and it is advancing upwards, aiming to jump the resistance level ahead. At the time of publishing, the crypto is experiencing a decline of 1.15% in the last 24 hours. The current market price is trading at $0.5986.
Now, it seems like the Aelf crypto is on the verge of a stunning breakout, as it gathers momentum and sellers are losing traction. That will lead the price to shatter the resistance and fly higher and higher from the current upward trendline base.
Therefore, if the demand for the ELF crypto advances more gradually, the asset price could turn around strongly from the current level. The next goal for the price would be to reach $0.64615.
In addition, the Aelf asset price is exhibiting bullish features and can reach bigger levels in the coming sessions ahead. It has displayed good performance in the previous week, month, and quarter by 5.88%, 7.83%, and 51.86% respectively, signifying a strong upward force in the upcoming sessions.
Furthermore, the ELF crypto asset is rising steadily and strongly as it remains above major 20 and 50-day EMA bands, indicating bullish strength on the daily chart.
Technical indicators for the Aelf crypto asset are showing bullish momentum as MACD shows a bullish crossover with growing histogram width on the upside. The MACD line is at 0.00327, the signal line is at -0.00160, and the histogram is at 0.00490.
The RSI is rising steadily as it took support on 14-SMA, indicating that the ELF crypto asset is not losing strength and can continue to climb higher in the upcoming sessions.
On the flip side, if the Aelf crypto price fails to stay above the $0.58460 level, it could plunge further.
Summary
Technical tools like EMA, MACD, and RSI suggest the continuation of the uptrend in the Aelf crypto price, contingent on the buyer’s surge over the daily time frame chart.
Therefore, if the demand for the ELF crypto advances more gradually, the asset price could turn around strongly from the current level. The next goal for the price would be to reach $0.64615.
Technical Levels
Support Levels: $0.58460
Resistance Levels: $0.64615
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.