$ELON (Echelon) – 1H Chart Analysis
Price is currently trading around $0.187, showing consolidation after a strong volatility spike.
Technical Overview:
Price is below EMA 25 & EMA 99, indicating short-term bearish pressure
EMA 7 ≈ current price, suggesting a decision zone
RSI ~40 → slightly bearish but near oversold, selling pressure is slowing
MACD flat near zero → momentum is weak, possible reversal if volume comes in
Key Levels:
Support: $0.17 – $0.18
Resistance: $0.21 → $0.24
Major rejection previously seen near $0.91 (strong supply zone)
Outlook:
As long as price holds above $0.17, a bounce toward $0.21–0.24 is possible
Break below support may lead to further downside & liquidity sweep
Needs volume confirmation for bullish continuation
⚠️ High volatility + low market cap = high risk
Trade with proper risk management.
Not financial advice. DYOR.