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EGLD / TetherUS

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EGLDUSDT trade ideas

Potential for Long-Term GrowthIn recent weeks, the EGLD currency has continued its downward trend, persisting within the midline of the descending channel following its reaction to the resistance range of $48-50. Notably, there have been numerous price collisions with the midline of the channel, indicating a high level of interaction. Furthermore, the RSI (Relative Strength Index) currently stands at 36, suggesting a moderate level of momentum in the price movement. This reading implies that EGLD is neither significantly oversold nor overbought at the moment. It indicates a state of equilibrium or a potential period of consolidation in the market. On the chart, there is a lack of strong indications for immediate price growth. However, it is worth noting that the EGLD price has approached crucial support levels around $35 and $32.5, which are considered short-term supports. These levels may experience positive fluctuations in the near future. In addition, two lower supports should be taken into account: one at $28.5 and the other at the bottom of the channel at $25.5. These supports exhibit substantial reactive power, potentially capable of triggering an upward reversal in the price trend within daily timeframes. Considering the RSI reading and the support levels mentioned, there is a reasonable expectation for favorable long-term growth within the identified price ranges. However, it is crucial to consider other factors and indicators to gain a comprehensive understanding of the market conditions and make informed trading decisions.
by MonoCoinSignal
10
EGLD/USDT TRADE SETUP! 25% PUMP INCOMING!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this EGLD/USDT scalp trade setup. EGLD looks good here. Breaks out from the falling wedge-like structure in 4hr time frame and currently retesting it. Long some here with tight stop loss. Target1:- $38 Target2:- $41 Target3:- $44 Target:- $46 SL:- $34.80 Use low leverage:- 5x-10x If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
EGLDUSDTHello my dear friends, *Mars Signals Team wishes you high profits* This is a 4-hour-time frame analysis for EGLDUSDT Here we see R4, R3, R2, and R1 as our resistance areas in which the unsuccessful attempts of price to rise is obviously seen. S1 is a long-term support area that has the support of price since the pas and S2 in another support area at the bottom of the chart. The price was supported well at S1 at several great points and after its failure in break toward S2, the price could experience a noticeable rise up to R4. There it was rejected and gradually had waterfall decline and via a descending behavior, it fell into S1 area. Presently, we see it is fluctuating above our first support area after having a negative Marubozu Candle and we believe the price will be supported here and after some fixation, it continues its increase upward to R1 or even over than that via more fluctuation there. Our resistance areas such as R2, R3, and R4 are the great points for saving your profits. So wait for the price to break each of them upward and then after having more fixation and having a retest, you are able to put your trade orders and wait for the price to rise more. Note that by the time the price is moving over S1 area, the possibility of a decline is not so much high. In case the price loses the support at the current point, it move below S1 and experiences a decline down to the second support area. Then we should wait for it to be supported well and on its returning trend upward, we can put our trade orders. We recommend you to wait for future and even for some signs in order to make sue of the next trade action and then have more precise prediction for you. Be aware of activating your stop-loss in order to have less loss and less risky trades. Please be attentive to wait for some confirmation candles in order to make sure what will happen next and act precisely and well. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Take care
by MarsSignals
MultiversX EGLD Price Targets after the FOMC meeting this weekThe upcoming FED meeting on May 3rd could cause a further decline in the crypto market due to the potential rate hike and ongoing unease around banking system developments. The outlook for the crypto market after the upcoming FED meeting on May 3rd is bleak. Fears of a deep credit crunch caused by Silicon Valley Bank's collapse have not yet materialized, and the financial situation is much steadier. Additionally, inflation remains elevated, and with evidence of stubbornness in underlying inflation, it could be in the 4% to 5% range, far above the 2% inflation target. The markets are pricing in a 25bp Fed Funds rate hike to 5.25% at the May FOMC meeting, and given the steadiness in financial markets, persistence in price pressures, and continued decent activity, this could contribute to a further downturn in the crypto market. EGLD/USDT short Entry Range: HKEX:38 - 43 Price Target 1: HKEX:32 Price Target 2: HKEX:25 Price Target 3: HKEX:20 Stop Loss: TASE:49
Short
by BuySellMarketMaker
MultiversX (EGLD) Showing Signs of RecoveryMultiversX (EGLD) has been showing signs of recovery after bouncing up from a support level of $40.00. In our last analysis, we identified this level as a key support level, and it has held the pullback so far. Currently, EGLD is on its way to the minor resistance level of $54.50. What is EGLD? MultiversX is a blockchain protocol that offers fast transaction speeds through sharding. It rewards community and active participants with EGLD tokens, which act as a store of value currency to pay for network usage and a medium of exchange between platform users and validators. EGLD allows developers to deploy smart contracts, protocols, and dApps on the platform and empowers participants to perform any network action. EGLD also functions as a governance token, enabling holders to vote on network decisions. MultiversX was announced in August 2019, and its mainnet went live in July 2020. EGLD's Bullish Momentum While it's true that just bouncing up from a support level does not guarantee an uptrend, EGLD has been displaying strong volume in the past two days. This is a positive sign because in the past, every time EGLD had a bullish day with strong volume, it led to an uptrend. This indicates that we may see at least a limited uptrend in the coming days. So far, EGLD has not shown strong bullish momentum compared to the rest of the market this year. This makes it difficult to estimate where the rally will stop. However, this also means that we can expect a stronger rally later on in 2024-2025 when the rest of the market should reach its all-time high. This makes EGLD a promising investment for the long term. Bottom Line: In conclusion, MultiversX (EGLD) has been showing positive signs of recovery lately. The strong volume it displayed in the past two days indicates that we may see a limited uptrend soon. While EGLD has not shown strong bullish momentum so far this year, we can expect a stronger rally in the future. Investors who are looking for a promising investment for the long term may consider investing in EGLD.
by cryptohopper
EGLDUSDT - Accumulation $EGLD against USDT is currently in an accumulation phase of 8 months and has printed a descending channel. It is currently in the middle of this channel. If we draw a Fibonacci Retracement from the Swing Low ($32) to the Swing High ($54.2), analyzing the period being 2023, we are around $38-39, which is at the 61.8% level. We are preparing a buy order at this level, and we are also considering a DCA of around $34-35. In the event that the swing low of $32 is lost, we will wait for the validation of a new swing low and the closing of a candle above the MA21 on a 1-day timeframe. We anticipate a target towards the MA233 zone ($47), and once this descending channel is broken, we will set our take profit towards $65-75. Typically, this type of accumulation requires great patience and discipline
Long
by CriptoPedia