EGLD has experienced a breakdown, indicating that both investors and sellers can continue selling. It has entered an accumulation phase, which may last for a couple of years. The nearest price target on the weekly chart could be around $6. Currently, altcoins are struggling, and even Bitcoin has not undergone a significant correction. Just imagine the impact when Bitcoin eventually experiences a correction of, for example, -20%.
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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.