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Egldusdt

EGLD Price Update & Technical Analysis in a 2-Day TimeframeHello everyone, I’m Cryptorphic. I’ve been sharing insightful charts and analysis for the past seven years. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: EGLD failed to break above the 50 EMA resistance and was rejected. The current market price of $28.8 is trying to hold strong, but it will likely weaken if there's insufficient volume. The invalidation point at $26 is also a support trendline, and a close below this level will likely trigger a drop to the lower support level at $22.4. For EGLD to turn bullish, it must break the 50 EMA as it did in October 2023. Key levels: ~ Primary Resistance: 50 EMA. ~ Support: $26. ~ Target: $65 to $75. ~ Adjusted Invalidation Point: A breakdown and close below $22.40. DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
EGLD ANALYSIS (2H)From where we placed the green arrow on the chart, it looks like an ABC pattern or a more complex pattern has formed . Wave A, which was a triangle, is over and it seems that we are now in wave B. Wave B looks like a triangle. EGLD is expected to rise up to the red box (in the red box wave d of B can be completed) and then reject to the green box (for wave e of B). For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
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. 💎Currently, #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. 💎On 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🌴
Long
by MyCryptoParadise
EGLDUSDT.1DHere’s an in-depth analysis of the EGLD/USDT daily chart, observing various technical components that provide insights into the potential market direction. Key Technical Levels: • Resistance Levels: The primary resistance at R1 ($52.70) represents a significant level where previous price rallies have faced strong sell-offs. Above this, R2 at $82.25 marks a critical upper boundary that could indicate a more substantial bullish trend if overcome. • Support Level (S1): The chart shows crucial support at $22.60. This level is pivotal, as a drop below could signal a potential test of lower historical supports, impacting market sentiment. Technical Indicators Analysis: 1. MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and the histogram displays a negative value, indicating bearish momentum in the market. This suggests that there could be further downward pressure in the short term unless a crossover to the positive occurs. 2. RSI (Relative Strength Index): The RSI hovers just below the midline at approximately 49.55, indicating a lack of strong buying or selling momentum. This positioning suggests a cautious market sentiment, where traders are neither overly bullish nor bearish. Price Trend and Market Strategy: • The marked downward trend from previous highs suggests a bearish sentiment has been dominant. However, the approaching support level at S1 will be crucial. A hold above this level could stabilize the price and potentially lead to a rebound towards R1. • Conversely, a break below S1 might exacerbate the bearish outlook, pushing prices towards more profound support levels. Trading Strategy: Given the current market indicators and price levels, traders might consider adopting a cautious approach. For those looking to enter the market, watching for a potential bounce off S1 with appropriate risk management could be prudent. Alternatively, should the price convincingly break below S1, waiting for stabilization or further decline to lower supports before taking positions might be advisable. In summary, the EGLD/USDT market is currently at a juncture where the next significant price move could be imminent. Traders should closely monitor MACD for any signs of a bullish crossover and the RSI for shifts out of the neutral zone to better gauge the market’s direction. This analysis should guide trading decisions, emphasizing vigilance and readiness to adapt to new information as the market develops.
Long
by MarsSignals
EGLDUSDT.1DLooking at the current EGLD/USDT chart, we see a fascinating technical landscape unfolding. First, let's discuss the support and resistance levels I've identified: Resistance Levels (R1 and R2): R1 stands at $52.70, which has acted as a significant barrier since early 2023, and R2 is at $82.25, a level last tested in late 2022. These resistance points are critical for the bullish scenario and would need to be broken with substantial volume for a sustained upward movement. Support Level (S1): The S1 at $22.60 is pivotal. This level has been tested and held firm throughout mid-2023, indicating strong buying interest. Now, let's delve into the technical indicators: Relative Strength Index (RSI): The RSI is currently around 38.97, which suggests that EGLD is neither overbought nor oversold. This neutral RSI provides room for the price to move in either direction without immediate pressure from overbought or oversold conditions. Moving Average Convergence Divergence (MACD): The MACD line is below the signal line but above the zero line, which typically suggests a bearish momentum. However, the proximity to the zero line also indicates that the negative momentum is not overwhelmingly strong. Given these observations, my perspective is cautiously optimistic. The support at $22.60 provides a good foundation for potential upward movement, but the market will need to see significant buying volume and a positive shift in broader market sentiment to challenge and possibly break through the resistance levels. Investors should keep a close eye on the MACD and RSI for early signs of momentum changes and adjust their strategies accordingly. If the price fails to hold the S1 support, it could lead to a retest of lower levels, but for now, the setup looks promising for buyers at current levels, provided the support holds strong.
Long
by MarsSignals
EGLDUSDT Chart UpdateHello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: EGLD has formed a falling wedge pattern with a breakout and close above the resistance trendline. Technically, this is a bullish pattern, and we will likely see a bullish trend for EGLD in the upcoming days. Currently, the 50 EMA is holding the price at $34.5 as a strong resistance. EGLD is yet to show a retest after the breakout; therefore, a retest at $30 to $32 is expected. Observations: ~ Primary Resistance: 50 EMA at $34.5. ~ Support: $30 to $32. ~ Target: $65 to $75. ~ Invalidation Point: A breakdown and close below $26.43. DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
EGLDUSDT | Ready for Another Surge?Market Context EGLDUSDT has been on a fantastic upward trajectory, and it looks like the momentum might continue! This could be a golden opportunity for a quick trade with an impressive risk-reward ratio of 4.5:1. Chart Analysis • Strong Upward Movement: EGLDUSDT has been climbing steadily, showing strong bullish momentum that could push it even higher. • Bullish Indicators: Various technical indicators are aligning to suggest that this upward movement has the potential to continue. Strategy I’m diving in with a trade aiming for a 4.5:1 risk-reward ratio. This setup is all about capturing the next leg up in EGLDUSDT’s bullish run. Action Plan Setting my entry and watching closely. If EGLDUSDT keeps up its current pace, we could see some exciting gains. Buckle up and let’s ride this bullish wave together! Good luck, everyone! 🚀💪
Long
by minno91
EGLD's Situation: What Shall we Expect !!! BINANCE:EGLDUSDT Produced the descending resistance on daily timeframe , Up we go if we do breakout. Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
1
EGLD/USDT Preparing for an Explosive Breakout | Positive Signs👀💎Get ready for a potential breakout with #EGLDUSDT as it nears the upper boundary of its descending channel. Currently testing the upper limits at a crucial support of $35.15, there's a robust chance for #EGLD to smash through the channel, powered by the momentum it has built up. 💎If #MultiversX stumbles and does not sustain the push from the $35.15 level, descending below, it may signal an ongoing bearish phase, leading to the next vital demand zone at $32.91. This level is well-known for its dynamic bullish recoveries, supported by substantial liquidity. 💎If CRYPTOCAP:EGLD revisits this zone, it’s imperative for the price to firmly rebound to preserve the support. Failure to achieve this could boost bearish forces, sour market sentiment, and potentially prompt a steeper price fall. 💎Keep your strategies nimble and your vigilance high, Paradisers. Your ParadiseTeam is closely monitoring and ready to guide you through the evolving dynamics of the #MultiversX market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
📈EGLD Analysis: The Impact of Ethereum ETF on the Market💥🔍Let's dive into today's analysis. Yesterday, the Ethereum ETF news was confirmed, but since it was already priced in, the market didn't rally. Instead, those who had bought in anticipation of an Ethereum pump started selling. ⚡️ Market Momentum Currently, there is a bearish momentum in the low wave cycle (LWC), which could extend to higher wave cycles (HWC). ⛓ Coin of the Day: EGLD Today's coin is EGLD, and the project behind it is MultiversX, a high-speed, low-fee blockchain utilizing Proof of Stake (POS). To ensure network security, you need to stake EGLD, earning annual rewards based on the transactions you validate. 📆 Chart Analysis Looking at the chart, EGLD has been in a downtrend. However, for several weeks, it has been ranging between 37.42 and 45.31. The chart shows stronger bearish momentum as the price has repeatedly failed to reach the range's upper boundary. 📊 Volume Analysis The volume supports the bearish candles, with sell volumes significantly higher than buy volumes. For opening a long position, I would wait for a reversal in volume trends, indicating that buying volume is entering the market. 📉 Short Position The nearest trigger for a short position, which we are currently reacting to, is 37.42. A break and close below this level would be a suitable trigger for shorting. ✅ Short Target The short target can be set at 31.06. However, a crucial support zone at 36.09, which once caused a false breakdown and a subsequent upward move, might cause a reversal back into the range. This zone is marked in black due to its unreliable nature. 📈 Long Position For a long position, there are three triggers to consider based on your strategy: 1️⃣ 38.76 Trigger : Not for the 4-hour timeframe. For this trigger, switch to lower timeframes like 15 minutes for a scalping position. 2️⃣ 42.62 Trigger : This logical trigger can push the price to the range's upper boundary with a suitable stop-loss in a lower timeframe, offering a good risk-to-reward ratio. 3️⃣ 45.31 Trigger : This is the primary long trigger, marking the range's upper boundary. A confirmed breakout above this level can target 52.25. 🪄 My Strategy Personally, for a short position, I aim to enter at the break of 37.42. For taking profits, I will monitor the market momentum and close the position once the bearish momentum ends. For a long position, I will not open a trade until significant buying volume enters the market. If appropriate volume is observed, I will use the 42.62 and 45.31 triggers to enter long positions. I avoid the 38.76 trigger, as it aligns with a reactive trading strategy that doesn't fit my approach. 📝 Conclusion In conclusion, the recent news about the Ethereum ETF has not provided the anticipated boost to the market, highlighting the importance of technical analysis in making informed trading decisions. For EGLD, the current market conditions suggest caution, especially with the prevailing bearish momentum and volume trends. Traders should closely monitor key levels and volume changes to identify optimal entry and exit points. As always, maintaining a disciplined approach and adhering to your trading strategy will be crucial in navigating the market's movements. If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next. 🧠💼 It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2. 🫶If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
2
EGLD: The Sleeping GiantMultiversX has been in a bearish trend since late 2021. but I think the bearish trend ended after the price passed the red supply zone in early 2024. If the counting is accurate and the volume of EGLD/USDT increases I expect it to see a new all time high in the future. On the low time frames I see a golden opportunity to enter it @ $30 with a stoploss below $21 (the bottom of the wave 1). The EGLD's Market Cap and the EGLD/BTC charts look very bullish too in my opinion so if you're interested in this coin & have done your research, you should consider it as a part of your portfolio. About the coin: MultiversX is a blockchain protocol that offers true horizontal scalability by using all aspects of sharding (Network, Transaction & State). The project describes itself as a technology ecosystem for the new internet, which includes decentralized finance, real world assets and the Metaverse. Its smart contracts execution platform is reportedly capable of up to 100,000 transactions per second, 6-second latency and a $0.002 transaction cost.
CRYPTO:EGLDUSDLong
by MohamedSewid
EGLD/USDT In the crucial area, it shows bounce from the support💎 The recent market dynamics surrounding #EGLD have indeed been quite notable. 💎 Currently resting on the support area, EGLD has historically demonstrated a tendency to bounce strongly when reaching this level, often leading to significant upward movements. 💎 There's potential for EGLD to repeat this pattern, and if it manages to break above the resistance, there's further potential for the price to continue its upward trajectory and reach the strong resistance area. 💎 However, if EGLD fails to hold above the support area, there's a possibility it may break below, indicating weakness and potentially leading to a decline to the next lower support area around $28.3. 💎 When EGLD reaches the key support, it must bounce back, as this demand zone holds significant importance. Reclaiming the price above the support area is essential for any further attempts to reach the strong resistance. 💎 If EGLD fails to do so and breaks below the demand zone, it could signal a bearish momentum, resulting in a significant downward movement. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan