ælf (ELF) - Technical Analysis - 24.01.2018

Well Hello There…

Here is the Technical Analysis for aelf (ELF)

ELF is moving in an “upward” trend.
It is above the short term Moving Average (EMA-20). We don’t have enough data for the Long term Moving Avarage (EMA-50). ELF has been recently added to Binance. Short Term Moving Average is at 12500 level.

ELF is about to finalize “Bowl Formation” between 17600 - 8700.
The lenght of the bowl formation is shown with “h” (17600 -8700=8900)
Once the Bowl formation is completed and passed price is expected to move minimum “h” length.
If the price could stay above the 17600 It may go up to 26500. (17600 +8900) Stop Loss is 125000

Trend is your best friend :) As long as the price stays above the moving average It represents an “Upward” Trend. As long as the price stays below the moving avareges It represents an “Downward” Trend.

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