Egldusdt
$EGLDUSD - ABCD pattern and Fibo levelsHello everyone!
Elrond is still in correction and the December 28 candle has closed at 0.618 Fibo level of the December 22 drop.
That means that Elrond may continue downwards if doesn't close above 26.374.
Whether it looks that December 27 uptrend contains an impulse the wave formation is yet to confirm the bullish price action.
Currently EGLDUSD is above the wedge and will proceed upwards, pattern to watch here is ABCD.
If the pair remains above the 25.260 support, the bullish will continue
✳️EGLD/USDT Analysis (7/11) #EGLD $EGLDEGLD, after breaking out of the Round Bottom pattern, has risen sharply and the target of this pattern is at 23-24$
The nearest support area that we can consider buying is the 16-17$ zone, if EGLD loses this zone, EGLD will fall into a downtrend and will dump hard in this December.
📈BUY
-Buy: 16-17$ if A.SL if B
📉SELL
-Sell: 23-24$$ if B.SL if A
♻️BACK-UP
-Sell: 16-17$ if B.SL if A
-Buy: 12.5-13.5$ if A.SL if B
-Sell: 12.5-13.5$ if B.SL if A
-Buy: 8.5-9.5$ if A.SL if B
❓Details
Condition A : "If 1D candle closes ABOVE this zone"
Condition B : "If 1D candle closes BELOW this zone"
Elrond 12h. Exchange of 1000 ERD for 1 eGLD and a new chartIn 2019, the Elrond project was launched as a result of IEO under the patronage of Binance, although then the IEO hype (like ICO) could not stay afloat for a long time.
In early September, the Elrond Mainnet token swap began.
As a result of the denomination, 1000 ERD is changed to 1 eGLD.
At the time of the swap launch, the cost of 1ERD was nearly $0.026-0.027 , that is, taking into account the denomination $26-27.
Then 3 months there was a formation of a U similar pattern with a bottom $6.
Now the price is approaching again to the level of $27.4 and there is a very high chance of starting a correction to the range $15-16.
Above there are two more levels of $31.30 and $34.85 and we highly doubt that the price will go higher without a major correction.
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