![]() ![]() ELON price analysis: Bearish momentum on the lose, price levels sink further The MACD line has also crossed below the signal line at -0.0001, indicating that bears control the market. The 20-EMA also points downwards and has crossed below the 50-EMA, further signifying a bearish trend. The relative strength index (RSI)also indicates bearishness, with its value at 32.52, just below the midline. This suggests that traders expect a bearish trend shortly and sell off their holdings to take profits or minimize losses. The Chaikin money flow has been below the zero line at -0.07, signifying that money is flowing out of the market. The volatility of the currency is at an all-time high, which can be seen from the chart bulls and bears have been taking turns in making the price go up and down. Today’s trend is bearish, as the price is gradually decreasing and has stooped to $0.0000001875. The 1-day price chart shows Dogelon Mars values are going bearish after slight retraces from the bullish side in the past few days. ELON 1-day price chart: Selling pressure pushes ELON down to $0.0000001875 On the other hand, if bulls can overcome the selling pressure and push the price of ELON above $0.0000001897, an uptrend can be expected shortly. The support level for ELON is at $0.0000001834 if the bears can break this level, a further price decline is expected. ELON’s price is down by over 5.01%, with more selling pressure mounting as the day progresses.
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