✴️ Elrond Back Above Support | Bulls Confirmed
The blue dashed line on this chart marks the low that Elrond (EGLDUSD) produced back in January 2023/December 2022, this is a most important level as it precedes a bullish wave that followed a strong bear market.
Seeing this pair going below this level is definitely bad news, the good news is that EGLD is now back above it and this confirms the bullish bias.
With the bullish bias confirmed, we can expect prices to grow.
The MACD is still below zero (bearish zone) yet trending higher and already showing a bullish cross.
This tells us that the tendency is bullish and we have plenty of room available for growth.
Namaste.
Seeing this pair going below this level is definitely bad news, the good news is that EGLD is now back above it and this confirms the bullish bias.
With the bullish bias confirmed, we can expect prices to grow.
The MACD is still below zero (bearish zone) yet trending higher and already showing a bullish cross.
This tells us that the tendency is bullish and we have plenty of room available for growth.
Namaste.
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