AELF(ELF/BTC)-Long setup

8 мар. 2019 г.

AELF (formerly Grid) main goal is to create a decentralized cloud computing network. AELF is a decentralized self-evolving cloud computing network. AELF provides a highly efficient multi-chain parallel-processing system with cross-chain communication and self-evolving governance To establish a Blockchain infrastructure for various commercial requirements,
There is an upcoming MainNet launch of this project by the end of this month i.e around 31st March'2019 and could be one of the cryptocurrencies with upside potential.
It might affect AELF price analysis so let's analyze daily Timeframe chart of the pair to know levels to buy for upside potential.
ELF/BTC pair ranged for more than 2 months since November'2018 and finally broke out of range in the month of February'2019. It moved 50+% against BTC pair on Binance and has been under correction. But, it has the more potential upside for the pair with the upcoming catalyst (MainNet).
If the pair breaks the preliminary resistance around 0.00004830-0.00005000 satoshi level Satoshi, then one buy at these levels after the retest.
If the resistance is not broken then we can see the price reaching support level 0.00003495-0.00003721 satoshi where interested buyers can look for these levels to enter for safe entry.
If the 0.00003495-0.00003721 satoshi level is not held then one can look for buying around 0.00002835-0.00003000 satoshi level with a tight stop-loss. Sellers can look for two potential resistance zone around 0.00005000-0.00007000 satoshi to book profits. Also, it has been trading above the 200D-SMAs and inside Ichimoku cloud, which is slightly bullish with STOCH-RSI indicator in the sell zone.

Caution: If the last line of support 0.00002835-0.00003000 satoshi level is broken then one should not hold the coin as it would be strongly bearish for the asset.