What Does Price Action Present In the Aelf (ELF) Chart?
The year 2023 was a roller coaster year for Aelf (ELF), as it traded with steep momentum that year, while the major momentum was witnessed around November and December of 2023. It was evident on the daily chart that from the $0.45 support level, the price had attained a peak of $1.165 by December 24th, 2023, and then profit booking dragged it back to near the previous run point.
Thereon, after struggling for 170 days in a range of $0.45 to $0.72, the price faced a further drawdown by June 11th, 2024, which reached $0.30 by July 5th. From this level, the price has shown some traits of resurgence in the ELF.
If the ELF price boosts upwards, then the price could have a run towards higher levels, like $0.45 and $0.72. In case it slips below $0.30, then further drawdown could extend, where the price could witness lows such as the $0.12 mark.
Overall, the indicators part is boasting towards a higher jump coming, and based on the price history, gains could be epic.
The bullishness appears to be increasing, as the price has been approaching the 200-day EMA band after jumping over the 50-day EMA band.
Meanwhile, the MACD showed a bullish cross that has formed below the zero line; the MACD shows that despite the bearish trend, the bulls are increasing their presence. The RSI shows the curve has surpassed the median line, more likely headed for the overbought 70; at press time, it's 58.96, and it shows that the price is not on the steam yet.
Thereon, after struggling for 170 days in a range of $0.45 to $0.72, the price faced a further drawdown by June 11th, 2024, which reached $0.30 by July 5th. From this level, the price has shown some traits of resurgence in the ELF.
If the ELF price boosts upwards, then the price could have a run towards higher levels, like $0.45 and $0.72. In case it slips below $0.30, then further drawdown could extend, where the price could witness lows such as the $0.12 mark.
Overall, the indicators part is boasting towards a higher jump coming, and based on the price history, gains could be epic.
The bullishness appears to be increasing, as the price has been approaching the 200-day EMA band after jumping over the 50-day EMA band.
Meanwhile, the MACD showed a bullish cross that has formed below the zero line; the MACD shows that despite the bearish trend, the bulls are increasing their presence. The RSI shows the curve has surpassed the median line, more likely headed for the overbought 70; at press time, it's 58.96, and it shows that the price is not on the steam yet.
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