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Elrond (EGLD) Analysis 10/03/2021Elrond 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. Elrond was first announced in August 2019, and its mainnet went live in July 2020. Elrond describes itself as a blockchain platform for the new internet economy, decentralized applications and enterprise use. Its main selling point is its high scalability, stating that it is the first blockchain network in which state, network and transaction sharding have all been implemented. According to its economics paper, it seeks to build up its ecosystem and establish EGLD as a store-of-value asset. To achieve this goal, the network runs on 2,169 validator nodes split into four shards: three execution shards, capable of 5,400 transactions per second each, and one coordination shard, the "Metachain." Elrond's adaptive state sharding architecture completely shards state, transactions and network. It can scale by adding an additional shard when the throughput demand is unmet. It was tested to run 263,000 TPS in a public environment with 1,500 nodes from 29 countries grouped in 50 shards. In order to increase adoption, the project also supports developers building on the platform, allowing them to earn 30% of the smart contract fees as royalties. The company maintains a supply of EGLD tokens to stake on the network during its first year, with validator nodes receiving a 36% annual percentage rate. Technical Analysis: there are total of 3 targets defined by Fibonacci projection. the 3 TP gets its confirmation when the 2 TP gets triggered by an impulsive wave followed by price correction.
Long
by BitonGroup
10
EGLD 1D H&S or not H&S, that is the question!It's been a long six months since we updated our thoughts on the EGLDUSDT trading pair, but it's time, because in the previous idea worked out all target: Now we have EGLDUSD price at a crossroads, where to go next? We don't know the answer to this question either, we just have a few thoughts-assumptions that we will share: 1) Now EGLDUSDT has finally reached the target of $287 and even slightly higher than it was set in February. However, it is alarming that EGLD price has risen 5.5 times in 3 months, on tiny volumes. Therefore, we would like to see a 50% correction and super buying activity by buyers in the $140-175 area. If that happens — that opens the way for abnormal targets of $700-950 for the Elrond eGold token. Share your thoughts in the comments, what could theoretically provoke such growth? 2) The growth on low volumes has prompted us to think that theoretically it could now form a "head" in a global head-and-shoulders reversal pattern. And the price of EGLD now can even jump to $370 , but such growth will not bring anything good in the future. After all, the global objective of the testing of the "Head and Shoulders" pattern is around $15. To sum it up: there are two equal development scenarios on the chart: blue — much up, red — much down, and you choose (what pill)... which route to go further). _____________________ Do you like the idea fulfilment? Does it help you trade and make a profit? Do you want more forecasts from us? Give us motivation! (Like, comment and donate). These little things won't make us rich, but they will warm the trader's soul while writing the next idea!
by P_S_trade
65
$EGLD/USDT 12h (Binance Futures) Parabolic curve on supportElrond eGold is retracing down but I believe uptrend could resume soon. Let's try to catch the next big dip if we are lucky enough! Current Price= 132.204 Buy Entry= 110.013 - 97.005 Take Profit= 159.521 | 219.800 | 311.178 Stop Loss= 75.154 Risk/Reward= 1:1.98 | 1:4.1 | 1:7.32 Expected Profit= +54.11% | +112.35% | +200.63% Possible Loss= -27.39% Fib. Retracement= 0.618 | 1 | 1.414 Margin Leverage= 1x Estimated Gain-time= 1440h
Long
by TradingOn
3
EGLD 12h Super growth, what's next?The last time we published an idea and described the EGLD coin 1.5 months ago. The idea worked and a correction took place from $ 30 to $ 20. And now the content shock: during this time, EGLDUSDT has risen in price by 1000% or x10 The top bar at the moment is $287 In the coming days, it will be decided whether the price will go there or not. After all, if the move is delayed and the movement begins to weaken and falling below $137 , there will be a possibility that the price of EGLDUSD will fall significantly lower. The liquidity levels below are $ 70 and $ 35. _______________________________ Since 2016, we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05% . If we help you to be calmer and richer - help us to be happier :)
by P_S_trade
7
EGLD/USDT 8h (Binance Futures) Descending channel breakoutElrond eGold is surely looking juicy here, preparing for a big move up I believe after that pullback. As long as 50MA is holding and supporting the price we are good to go up! Current Price= 8.158 Buy Entry= 8.191 - 7.729 Take Profit= 8.953 | 9.906 | 10.96 Stop Loss= 6.967 Risk/Reward= 1:1 | 1:1.96 | 1:3.02 Expected Profit= +12.47% | +24.45% | +37.69% Possible Loss= -12.47% Fib. Retracement= 0.382 | 0.5 | 0.681 Margin Leverage= 1x Estimated Gain-time= 480h
Long
by TradingOn