$ELF $ELF

ELF/USDT: A Bearish Trend with Potential for Further Decline

ELF/USDT has experienced a significant decline of 10.14% and is currently trading at $0.3670. The chart shows a bearish momentum with potential for further downside.

Key Points:

* Support: The $0.3636 level has held multiple times, indicating strong support.

* Resistance: The current resistance is at $0.4493. Breaking above this could lead to a reversal of the bearish trend.

Entry Strategy:

* Conservative: Wait for a break below $0.3636 to confirm further downside.

* Aggressive: Enter a short position at the current price with a stop-loss above $0.4493.

Disclaimer: This is not financial advice. Do your own research or consult a financial advisor.

Additional Considerations:

* Decreasing volume suggests waning interest.

* Negative momentum indicators like MACD support the bearish trend.

Conclusion:

ELF/USDT presents a bearish opportunity. Consider a well-defined entry strategy for potential profit from further price decline.

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