Welcome to this analysis about ELFUSDT, we are looking at the 1D time frame perspectives.
Support and resistance ranges are specified.
Information provided is only educational and should not be used to take action in the markets.
thank you for watching the analysis.
-AELF coin is looking strong as the price is trying to test the resistance area
-If we can see a daily candle above the red resistance zone
-This will give us a potential strong upside bias
-Provided it can hold the 1200 region for at least a week
-A minor pullback or retest would be good
-This will give extra conviction that this market will truly reverse
-the price is at the end of the triangle pattern
-trying to break dynamic resistance MAs and trendline
-if this resistance is broken, the upside is priority
-the potential target is up to 1200s
-ideal stoploss is below 810s
ELF broke important key support on the daily time frame, I don't how far the price will go down but since the RSI is already under the oversold condition, there could be a potential minor relief rally.