Enzyme (MLN) USD price live update with interactive visual and analytical tools to study chart patterns, price movements. Chart references the cryptocurrency – MLN USD price from Kraken exchange.
About Enzyme (MLN):
Enzyme Finance is an Ethereum-based protocol for decentralized on-chain asset management. It is a protocol for people or entities to manage their wealth & the wealth of others within a customizable and safe environment.
Enzyme empowers anyone to set up, manage and invest in customized on-chain investment vehicles. Using Enzyme Smart Vaults, individuals and communities can build, scale and monetize investment (or execution) strategies that employ the newest innovations in decentralized finance.
Enzyme Finance formerly known as Melon Protocol has a native token MLN that is used to pay for various functions throughout the vault creation process and investment lifecycle.
Helpful technical indicators to study Enzyme (MLN) USD price movement:
Technical Analysis through the use of charts or volume analysis helps to forecast future Enzyme (MLN) USD price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely Enzyme – MLN USD price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line” is then plotted in addition to the MACD line which together functions as a trigger for buying or selling an asset – Enzyme (MLN).
Traders may buy the Enzyme Finance token MLN when the MACD crosses above its signal line (orange line) and sell, or short the Enzyme MLN cryptocurrency when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side of zero the MACD lines are. Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero – Above zero for a sustained period of time, and the trend is likely up or Below zero for a sustained period of time, and the trend is likely down.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:
- RSI values of 70 or above indicate that an asset is becoming overbought and prime for a trend reversal or experience correction in the asset Enzyme (MLN) USD price.
- An RSI reading of 30 or below indicates an oversold or undervalued condition.
Moving average (MA) of Enzyme (MLN) USD price
MA is the average of the closing Enzyme (MLN) USD price over a given number of periods. The 200-day simple moving average is one of the most-watched activities in the price charts by mostly all experienced traders. There are two basic signals in relation to the moving average:
- If the price is above the X day SMA, this signals a bullish movement.
- If the price is below the X day SMA, this signals a bearish movement.
MA(50,200) Crossover
Another important signal is a crossover between the 50-day and the 200-day moving averages.
- When the 50-day moving average (MA) crosses above the 200-day MA, it is called a golden cross. It signals that a new bullish Enzyme (MLN) USD price trend is starting.
- When the 50-day MA crosses below the 200-day MA, it is known as the death cross (bearish crossover). This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.
- If OBV is rising and the price isn’t, then the price is likely to follow the OBV.
- In case the Enzyme (MLN) USD price is rising and OBV is flat-lining or falling, the price may be near the top.
- If the Enzyme (MLN) price against USD is falling and OBV is flat-lining or rising, then the price could be nearing the bottom.
Chart Patterns
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending and Descending)
- Double top and bottom [M (bearish) and W (bullish)]
- Triple Tops (bearish) & Bottoms (bullish)