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EGLD / TetherUS

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EGLDUSDT trade ideas

🔥 EGLD In Huge Support Area: Preparing For Bounce?EGLD has been one of the weaker alts in the last few weeks. Where most alts have been trading relatively stable, EGLD continues to sell off and make new lows. Currently, we're at the same valuations as we were during the summer-21 bear market, giving away around 90% since the all-time high in November. This area of support is the last area where the bulls can opt in for a reversal. With BTC trading sideways, we might see EGLD bounce in the near future. Wait for confirmation of the bounce, since you don't want to catch a falling knife. A $100 target seems reasonable, as long as BTC doesn't work against us.
by FieryTrading
5
🚩EGLD: falling wedge breakout! Wait for confirmation!EGLD price made a bullish wedge after a false breakout. As we know, the crypto market has its own specifics of patterns. Often it happens with manipulations, collecting of stop losses, false breakdowns, etc. In this case, the manipulation was the first time when the wedge was broken out, when the candle collect liquidity above the wedge and returned to it. The price fell by 8-9%, almost the same as the entire crypto market. It`s not to much and show the bulls power. By volume, we see that this altcoin has been bought 3 times at the bottom. This indicates a big player who is accumulating a position. Locally, we might see a breakout of the bullish wedge. If the volumes grow on price pullbacks, it will confirm our bullish scenario. Targets can be identified by the horizontal volumes indicator. It`s the largest value areas, where the most of traders will close their position: $90-93 $107-110 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
3