Bullish outlook for MultiversX base token, egold (EGLD)
Since April 25,
EGLD has been trading above a key trend indicator — closing 27 days above the S/R 1D50EMA, with a 6-day deviance below that line.
The 50-day exponential moving average has played a significant role for the token, indicating short- and mid-term trends and market sentiment for egold and the MultiversX chain.
This current behavior signals strength and a rising positive sentiment. I wouldn't be surprise with a sudden run to each of the previous touching points: $25.5 and $37, making 40% to 100% from the current $18.2.
Despite the targets, trading and closing all these days above the 1D50EMA marks a significant trend shift after nearly 5 months trading below this average (bearish), followed by a massive negative sentiment in the MvX ecosystem.
Things are changing in a great timing with the Andromeda upgrade activation — the biggest release for MultiversX since the mainnet launch around five years ago.
Since April 25,
EGLD has been trading above a key trend indicator — closing 27 days above the S/R 1D50EMA, with a 6-day deviance below that line.The 50-day exponential moving average has played a significant role for the token, indicating short- and mid-term trends and market sentiment for egold and the MultiversX chain.
This current behavior signals strength and a rising positive sentiment. I wouldn't be surprise with a sudden run to each of the previous touching points: $25.5 and $37, making 40% to 100% from the current $18.2.
Despite the targets, trading and closing all these days above the 1D50EMA marks a significant trend shift after nearly 5 months trading below this average (bearish), followed by a massive negative sentiment in the MvX ecosystem.
Things are changing in a great timing with the Andromeda upgrade activation — the biggest release for MultiversX since the mainnet launch around five years ago.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.