The manuscript has four leaves, and this poem is on 1 verso. It is dated by Windisch 8th c., most people put it in the 9th, as the language seems to indicate.
Alliteration is common.
This may be the ancestor of scaldic meters. The British of the 16th and 17th turned thumbs down on the poets, whom they thought incited the people. My translation is my own, but it sounds like Murphy. I could add grammatical remarks if you like. I have done some punctuating and word-breaking.