In the early hours of yesterday’s trading session, the Ellipsis X Crypto had doubled. However, in the late hours of the session, the prices started to come down. However, as the day progressed, the prices started to come down, and by the close of the trading session, they had dropped by 28 per cent to close the markets up by 38 per cent.
In today’s trading session, the strong and aggressive bearish push looks o be continuing. At press time, Ellipse X Crypto price is down by 12 per cent. The trend also looks aggressively bearish, and there is a high likelihood it may close lower by the end of today’s trading session.
Part of the reason we are seeing today’s price plunge is due to the sudden collapse of the crypto’s trading volume. In the past 24 hours, Ellipsis X Crypto trading volume has dropped by 43 per cent to a total of $44 million. As expected, when there is such a huge trading volume drop, the markets respond by falling sharply, which is what we have seen with the current Ellipsis X Crypto price.
There is also the fact that Ellipsis X, as an altcoin, is significantly correlated with the industry. Therefore, despite the sudden surge in price in the past few trading session, it has returned to its default and trading in tandem with the industry. Considering that we are still in a bearish cryptocurrency market in general, it is not surprising that the sudden surge has failed to continue into today’s trading session.
Ellipsis X Crypto Price Prediction
Despite yesterday’s sudden surge in price, which at some point, had the value of Ellipsis X Crypto doubling, my price prediction expects the bearish trend which has persisted since the start of August to continue. There is a high likelihood that we might see prices making their way inside the descending channel again.
Therefore, in the next few trading session, I expect the prices to hit the $0.00045 price level. My Ellipsis X crypto price prediction also expects the price to likely break the support level, which will see it drop below the $0.00040 price level. This analysis will only be invalidated by prices trading above today’s price high of $0.000059.
Ellipsis Daily Chart
