Binance Technical Analysis: ELF/USDT - A Bullish Trend in Focus 📈
🚀 Current Price: $0.7156
📊 24h Change: +15.55%
The ELF/USDT trading pair has shown strong bullish momentum over the past 24 hours, currently trading at $0.7156, marking a significant upward movement. Let’s dive into the technical analysis and discuss potential price targets based on key market levels.
Key Support and Resistance Levels:
24h High: $0.8400
24h Low: $0.6011
The price has been fluctuating between these levels, showing considerable volatility, with the price attempting to break out above resistance levels.
Technical Indicators:
SAR (Stop and Reverse): 0.7579 — The SAR indicator suggests a potential shift in market trends, signaling a move towards further bullish momentum as long as the price holds above this level.
Target Levels 🎯:
1. First Target: $0.7579
This aligns with the SAR value, acting as a key resistance point. If the price consolidates above this level, the bullish trend could gain more traction.
2. Second Target: $0.80
A psychological level and also close to the 24-hour high of $0.8400. Breaking this level could lead to further upward momentum as the market tests previous highs.
3. Third Target: $0.8400
The ultimate resistance level within the last 24 hours. If the price reaches this point, a breakout above could signal continuation to higher levels