To make more sense of this new asset class, BTCManager regularly highlights new cryptoassets to gauge whether or not they could potentially turn into profitable investments for its holders. In this article, you will be introduced to the Elastic Project and its native currency the elastic coin, which carries the ticker XEL. Elastic traders use a variety of tools to try and determine the direction in which the XEL market is likely to head next. When trying to predict the Elastic price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall. According to our historical data, it is currently not profitable to invest in Elastic.
- BTC’s total market capitalization has climbed by nearly 5% over the last day to $718.6 billion, while the total volume of the asset traded over the same period jumped by 24%.
- Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold.
- The Elastic price prediction on CoinCodex is calculated using the historical Elastic price dataset, accounting for past volatility and market movements.
- A leading figure in Elastic’s team with the pseudonym Lannister left the project, which has led to inaccessibility of the project’s ICO funds and scam accusations on the BitcoinTalk Forum to increase.
Just like with any other asset, the price action of Elastic is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of XEL.
Given the nature of this project, which focuses on serving individuals, institutions and companies in need of increased computational power, this is not a cryptocurrency that screams mainstream adoption. This is something that would make any investor somewhat skeptical about whether the team can really pull this project off. Most traders use candlestick charts, as they provide more information than a simple line chart. The Elastic price prediction on CoinCodex is calculated using the historical Elastic price dataset, accounting for past volatility and market movements.
xel group has partnered with the leading memory manufacturers around the world
Elastic has garnered attention within the cryptocurrency community and has been featured in various media outlets and online forums. This recognition indicates growing interest and awareness of the project, potentially leading to increased adoption and market presence. A robust and innovative product is the foundation of a successful cryptocurrency project. Elastic’s decentralized supercomputer showcases its strength in providing a scalable, secure, and efficient computing infrastructure.
The system offers trustless access to computational resources at any time and from any location, while keeping privacy and anonymity. As the name suggests, a moving average provides the average closing price for XEL over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for XEL is a sum of XEL’s closing prices over the last 12 days which is then divided by 12. CoinCheckup provides live cryptocurrency prices and charts, listed by crypto market cap. Get latest crypto prices, predictions,
news, and historical data for Bitcoin and thousands of altcoins. This allows individuals and companies to purchase computational power supplied by a range of GPUs and CPUs using elastic coins.
What is Elastic’s 14-day RSI and what does it indicate?
In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action. Many cryptocurrency traders pay close attention to the markets when the current Elastic price crosses an important moving average like the 200-day SMA.
Cryptocurrency Prices
Become a part of XEL’s network by providing hardware resources and earn tokens from helping other users resolve demanding computational tasks for advanced scientific research. Create a free account to gain access to news, analysis, and real-time alerts on the stocks you follow. Through innovative, reliable products and services; talented people; a responsible approach to business and global citizenship; and collaboration with our partners and customer, Samsung is taking the world in imaginative new directions. The presence of experienced advisors can provide valuable guidance and insights to a project. While information regarding Elastic’s advisory board was not readily available, it is crucial to consider the expertise and credibility of the individuals supporting the project. Elastic demonstrates a strong focus on communication, providing regular updates, announcements, and engaging with the community.
It is advisable to follow Elastic’s official social media accounts for the latest updates and community discussions. Continuous development and improvement are crucial for the long-term viability of any project. Elastic demonstrates a commitment to ongoing development, with regular updates and enhancements to its infrastructure and programming language. This dedication to improvement ensures that Elastic remains at the forefront of technological advancements and meets the evolving needs of its users. The success of any project hinges on the capabilities and expertise of its team members. Elastic boasts a team of skilled professionals with diverse backgrounds, including blockchain technology, software development, and finance.
While the project is highly interesting and it is clear how it could add massive value to its target market, it is unlikely that the wider cryptocurrency investors community will pour serious amounts into this new cryptocurrency anytime soon. The total supply of elastic coin is 100 million, and no new coins can be mined or minted. The cryptocurrency started trading on exchanges on June 24, 2017, and can currently be bought and sold on Bittrex and using the Heat Wallet with the former processing the lion’s share of the currency’s $500,000+ daily trading volume. The Fear & Greed Index combines several market and investment indicators, including 30- and 90-day volatility, trading volume, social media activity, and Google Trends data. The Fear & Greed Index can be a useful measure of Elastic investors’ sentiment, and is based primarily on Bitcoin-related market data.
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The so-called miners are then motivated to offer their computational resources in exchange for a portion of those ELC coins. The size of this portion depends on the amount of work a miner has contributed in relation to the rest of the network. Using ELC as the driving force, Elastic Coin offers potential buyers a large parallel computation cluster composed of many CPUs, GPUs, FPGAs and other devices supplied by the miners. Bitcoin and crypto elastic (xel) prices have been making headlines over the past week amid excitement about the prospect of a spot bitcoin ETF approval. The global crypto market cap has increased by more than 3% over the last day to $1.28 trillion, while Bitcoin’s dominance edged higher to 53.42%. The Crypto Fear and Greed Index, which measures the sentiment of crypto market participants, has improved to a greed level of 71, suggesting an increase in risk appetite.
Execute your tasks on XEL platform
In addition, the algorithm uses the cyclical nature of Bitcoin halvings, which introduce extra supply-side pressure on BTC every 4 years. This has historically played a pivotal role in cryptocurrency markets and is a major component of creating a realistic Elastic prediction. Elastic (XEL) represents a promising decentralized supercomputer project that leverages blockchain technology to revolutionize distributed computing. Through its strong fundamentals, including effective communication, a talented team, a robust product, and ongoing development efforts, Elastic has positioned itself as a key player in the industry. Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.
This transparency fosters trust and ensures that stakeholders remain informed about the project’s progress and developments. Currencies that are positively correlated with Elastic indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Elastic, a move in one direction for Elastic would translate into a move in the opposite direction for the negatively correlated coin. Bitcoin’s rally to $36,700 has been credited to the upcoming Bitcoin ETF approval window. In a recent note, Bloomberg’s senior ETF strategist James Seyffart updated that a brief window for the US Securities and Exchange Commission (SEC) to approve all 12 spot Bitcoin ETFs opens on Friday, November 9.