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.
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