The Aelf crypto price action indicates that the buyers were enthusiastic with incredible momentum around November 2023. The crypto rushed from $0.35000 to a high of $1.16000. At the top level, it created a supply area, which triggered a strong buyer’s rejection, and the price slipped and formed support at $0.48500.
At this support level, the price exhibited seller’s rejection which prevented the price from forming any new lows. The crypto has displayed a sign of revival as its price recovered from a key level of around $0.48500 on the daily chart.
However, the momentum is low in the ELF price and it is moving upwards, striving to jump above the resistance level ahead. At the time of publishing, the crypto was up 0.65% in the last 24 hours. The current market price is trading at $0.63655 and struggling to jump above $0.64615 level.
Can Aelf Crypto Skyrocket Soon?
Now, it seems like the Aelf crypto is on the brink of a dazzling breakout, as it amasses buying momentum and sellers are losing traction. That will guide the price to smash the resistance and glide higher and higher from the existing upward trendline base.
Therefore, if the demand for the ELF crypto increases more gradually, the asset price could continue surging strongly from the current level. The next objective for the price would be to reach $0.75500 and in-between resistance is about to be breached which is at $0.64615.
In addition, the Aelf asset price is demonstrating bullish characteristics and can reach larger levels in the forthcoming sessions ahead. It has portrayed good performance in the prior week, month, and quarter by 4.97%, 13.66%, and 11.51% respectively, suggesting a powerful upward force in the upcoming sessions.
Furthermore, the ELF crypto asset is growing steadily and intensely as it remains past the major 20 and 50-Day EMAs, demonstrating bullish potency on the daily chart.
Technical indicators for the Aelf crypto asset are revealing bullish momentum as MACD shows a bullish crossover with a growing histogram width on the upside. The MACD line is at 0.0133, the signal line is at 0.0076, and the histogram is at 0.00564.
The RSI is increasing steadily as it took support on 14-SMA, displaying that the ELF crypto asset is not failing its strength yet and can resume climbing higher in the upcoming sessions. RSI is at 62.69 and 14-SMA is at 57.02.
On the flip side, if the Aelf crypto price fails to stay above the $0.48988 level, it could plunge further.
Summary
The Aelf price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a pivotal level and struggled at resistance to jump above and show a rally upward. Moreover, the technical tools of the Aelf price action shows the continuation of the higher high structure over the daily time frame chart.
Technical Levels
Support Levels: $0.48988
Resistance Levels: $0.64615
