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EGLD

🔥 EGLD At Massive Support AreaSix weeks ago I made an analysis on EGLD. In this analysis I discussed the ascending / bearish wedge pattern and the bearish target in case of a bearish move. As of this week, the bearish target of $170 has been reached and EGLD is currently trading near a huger support area. It's certainly possible for EGLD to drop further inside the area of support, but a weaker BTC would be needed for that. Since BTC appears to be relatively bullish in the short-term we might actually reverse from this area. For the coming weeks I've got my target placed at $300. Not sure how much juice EGLD has left in it since it made a 70x already, but who knows. Happy trading!
by FieryTrading
9
So many bullish formations but such an ugly trend, what next?So many bullish formations but such an ugly trend, what next? We have a huge falling wedge with a small Inverse H&S forming a cup and handle inside it. What the hell. Anyways, even though the trend is very ugly and looks like it could take some time to recover, and S&P felt badly yesterday, the dollar is free falling, and when that happens BTC usually gets exited, but the S&P too. Even if we break it to the upside here we need to be careful when the markets open tomorrow.
BYBIT:BTCUSD.PLong
by ViniciusBaccelli
EGLDUSD is holding its 1W MA50. Bottom formation possible.Elrond, a crowd favorite among crypto traders, hit last week its 1W MA50 (blue trend-line) and so far on the current 1W candle is holding it. This makes it a Support, in fact it has been the long-term Support since the May - June 2020 bullish break-out. As you see on this weekly time-frame, using the help of the Sine Waves to better illustrate EGLD's cyclical phases, when the price hits the 1W MA50 it forms a Support, consolidates for around a month and then starts a strong parabolic rally. The previous corrections have both been around -80% and even though the current is just short of -70%, we have to watch the 1W MA50 closely for a potential bottom formation this month into February. Our next Target is the 5.0 Fibonacci extension level at $765.00. A break above the Higher Highs trend-line during the next rally phase, would place the target even higher within Fib 5.0 and Fib 6.0. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:EGLDUSD
by TradingShot
3
EGLDUSDTHello Crypto Lovers, Mars Signals team wishes you high profits. We are in the daily time frame. You see the resistance line R1. The price has broken R1 but has not stabilized above this line yet. If it does, it can gradually move up to the area shown on the chart. It is possible for the price to make a pullback to the S1 line and then go up. If it goes below the S1 line then there would be more falling. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Wish you luck
Long
by MarsSignals
$EGLD Elrond Daily SetupA potential setup and rally coming up for Elrond on a daily timeframe. I did this trade twice in the past, curious if it'll work out a third time. Entry zone is above the green line, preferably after a retest. With the major down TL broken it seems EGLD is establishing support after a firm correction of about 60%. Macd seems in favour of crossing up. However it is only a probability within current market environment, BTC might swing down and the setup invalidate.
Long
by OpOsjaan
EGLD - ELRONDElrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD , that is used for paying network fees, staking and rewarding validators. EGLD is a project that I like, it delivers and especially, I like the price chart. :)
BINANCE:EGLDUSD
by ny3001