EGLDUSDT Is a Major Move on the Horizon?
Yello, Paradisers! Is #EGLDUSDT setting up for a major reversal, or are we looking at a possible extended downturn? Let's dive in.
đź’ŽCurrently, #EGLD is forming within a descending channel, hinting at a potential downturn as it approaches a strong demand zone. This zone could be the catalyst for a significant momentum reversal, potentially setting up EGLD for a powerful upward move. If this scenario plays out, we could see EGLD targeting the supply zone first.
💎However, there's a key pivot point to watch—if EGLD fails to break through the supply zone and remains confined within the descending channel, the price might continue to move sideways, oscillating between the strong demand and supply zones. For a bullish continuation, it's crucial that EGLD breaks out of this range and moves toward the final target near strong resistance.
đź’ŽOn the flip side, bullish momentum could be invalidated if EGLD breaks below the strong demand zone and closes the day beneath it. This would increase the probability of further downward movement, potentially leading to a deeper dip.
Stay focused, patient, disciplined, and always keep your eyes on the prize.
MyCryptoParadise
iFeel the success🌴
đź’ŽCurrently, #EGLD is forming within a descending channel, hinting at a potential downturn as it approaches a strong demand zone. This zone could be the catalyst for a significant momentum reversal, potentially setting up EGLD for a powerful upward move. If this scenario plays out, we could see EGLD targeting the supply zone first.
💎However, there's a key pivot point to watch—if EGLD fails to break through the supply zone and remains confined within the descending channel, the price might continue to move sideways, oscillating between the strong demand and supply zones. For a bullish continuation, it's crucial that EGLD breaks out of this range and moves toward the final target near strong resistance.
đź’ŽOn the flip side, bullish momentum could be invalidated if EGLD breaks below the strong demand zone and closes the day beneath it. This would increase the probability of further downward movement, potentially leading to a deeper dip.
Stay focused, patient, disciplined, and always keep your eyes on the prize.
MyCryptoParadise
iFeel the success🌴
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