I see good level to open mid and long term positions. This coin has really good potential. We can see convergence on week timeframe. On 1 day and 4 hours it also looks good in pairs with ETH and BTC. 0,00024-0,00027 as mid-term goals and 0,000655 as long term. Great profit to everyone!
This is not an advice to sell or buy, it is just how i see this chart. In this case i would go long. ELF is in an uptrend. Now we can see consolidation. It broke 0.0018 resistance and it never dropped below that. Other resistances where i would sell are shown on chart.
To cut it short i'm learning elliot wave theory and i'm really just lookinghow this one plays out but anyway,
we are having higher lows on the rsi tried to break though twice but failed
the MACD support line lookins like its gonn twist
Just hoping it would continue this support trend line and not break it but time will tell
Samurai Ben Shoalin Style...
It would appear after a cup and handle now forming a walling wedge in my opinion and should be in reversal very very soon. Easy to play just set and alert right above the wedge and if it goes off do some basic validation and get into the trade!
ELF is in a great buying position if it bounces off this current pink line. VERY strong support here built from the past. If it goes below you can see where the green medium support and next lower pink level is the bottom essentially.
Price outside value zone (historically in its favor to return to this zone)