As per price action, ELF has been in a bullish trend since November last year even before 2023 started. The ELF price found support around $0.1000 and was strongly bought. From the low of $0.1000 to the high of $0.4031 and still rising and making news peaks, the high was reached by September 16th, 2023.
Moreover, the price spent a fair amount of time on Fibonacci levels of 50.00%, and 38.20%, and stepped up smoothly from these Fibo levels after a heavy consolidation of about six months.
The CMP is $0.3763 (at press time), The current price of ELF stock might achieve more and there is a possibility for the price to move toward the next resistance level of $0.4000 and $0.4500.
On the other hand, if the price breaks below the $0.3325 (23.60% fibo level) vital support level, it might fall toward $0.2881 and beyond.
Aelf Price Shows Bullish Trend Over Daily Chart
The Aelf price is currently trading at $0.37 and surging higher forming a bullish price action. The price has gained momentum and might continue to surge to higher levels.
The volume analysis shows that the ELF crypto has received a $59.23 Million volume in the past 24 hours which is more than the 10-day average volume. The crypto holds a market cap of $239.742 Million and ranks 108th in the crypto market. The volume to market cap is 24% indicating a high volatility in the market.
Technical Indicators Show Bullish Trend Dominance
The EMA analysis shows that the ELF price bounced back from the 50 and 200-day exponential moving averages indicating the domination of buyers in the price trend.
At the time of publishing, aelf (ELF) is trading above the 20 and 50-day EMA. RSI is around 63 turned bullish as it took 14 SMA support and MACD crossed each other and a bullish cross is noticed and the histogram width is widening.
Conclusion
ELF crypto has been in a bullish trend since November 2022 and has reached a high of $0.4031. The price has bounced from Fibonacci levels of 50% and 38.2% after a long consolidation. The current price is $0.37 and might rise to $0.4 or $0.45. The volume is high and the market cap is $239.742 Million. The volume-to-market-cap is 24%, indicating high volatility. The price might fall below $0.3325 if it breaks the 23.6% Fibonacci level and reaches $0.2881 or lower.
Technical Levels
- Support levels: $0.35 and $0.32
- Resistance levels: $0.40 and $0.43
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 or stock comes with a risk of financial loss.
