20
The star of October crypto rally ELON token, which surged around 4000%, is currently in a consolidation phase. The technical outlook for ELON/USD still indicates a bullish trend as the coin is trying to sustain these higher levels. Watch out for these supports levels that can help the token to maintain this rally
- The ELON token price trying to hold above the 0.382 Fibonacci retracement level
- The ELON token’s daily RSI showed a striking drop in its value
- The intraday trading volume in the ELON token is $60.8 Million, indicating an a4.72% gain.
Source- ELON/USD chart by Tradingview
The ELON token showed an incredible rally in October, where the price gained more than 4000% from the month’s low. The token made a New All-Time High at the $0.00002675 mark and then entered a retracement phase.
This moderate pullback managed to sustain above the 0.618 Fibonacci level and is showed a decent recovery in its technical chart. Moreover, the 20 EMA line is also providing strong support to the ELON token price.
The Relative Strength Index value at 57 indicates a bullish sentiment still intact for the ELON token. However, the RSI line displayed a considerable drop in its value for a minor retracement phase, suggesting weakness in this rally.
ELON/USD Chart In The 4-hour Time Frame
Source- ELON/USD chart by Tradingview
The ELON token in this lower time frame chart suggests a possibility of forming a bearish head and shoulder pattern, indicating a great sell opportunity for crypto traders. The current price of this coin is at the $0.0000017 mark, with an intraday gain of 1.61%
The neckline for the pattern is present at the $0.000001475 mark, and the crypto should wait for a decisive breakdown from this support level before they take a new position in the crypto market.
.
- Price Analysis
- Trending
- Dogelon Mars Analysis: ELON Price Taking A Short Break, Will Its Rally Continue Or Dip More?
- Harmony Price Analysis: When Will ONE Token Retracement Phase End? Watch For These Crucial Support Levels.
- Reserve Rights Price Analysis: The RSR/USD Suggests More 18% Gain In The Upcoming Days
- XRP Price Prediction: Is It A Good Time to Long XRP? Here Are Important Levels to Watch out
- Chiliz Price Analysis: A Breakout From The $0.57 Level Would Initiate Significant Up Movement In CHZ Coin
- Sandbox Price Analysis: SAND Token Gains 12% In Intraday Sessions, Will This Rally Continue?
- Verge Price Analysis: XVG Coin Experiencing Strong Rejection From $0.038 Resistance, Will It Fall Again?
- Shiba Inu Price Prediction: $0.000055 Level Is Crucial For SHIB’s Bullish Breakout
- Kishu Inu Price Prediction: KISHU stares into the abyss as key technical pattern spells doom
- Floki Inu Price Analysis: FLOKI Token Loses The Bullish Craze, Is This A Good Time to Sell And Protect Your Profits?
- Taproot Goes Live, Here’s All You Need To Know About Bitcoin’s Network Upgrade
- XRP Price Prediction: Is It A Good Time to Long XRP? Here Are Important Levels to Watch out
- Indian Government Meet To Discuss The Future of Cryptocurrency, But The Public Might Not Be Having It
- Indian Security Regulator Approves First ETF That Will Invest In Crypto Firms
- Nigerian Central Bank insists CBDC use amid Bitcoin bull
- Elon Musk Has Sold $6.9 Billion Worth of Tesla Stocks This Week, Is There a Bitcoin (BTC) Connection?
- Shiba Inu Price Prediction: $0.000055 Level Is Crucial For SHIB’s Bullish Breakout
- Is this man the reason behind Chinese Crypto Mining Ban?
- Investment Giant Morgan Stanley Predicts the Next Big Investment Theme of Crypto
- SEC Probe against Terraform Labs, yet another unregistered security fiasco
