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✴️ elrond 333% Bullish Wave Mapped | #1, #2 & #3 ExplainedThe market has periods when its behaviour is quite hard to predict, it goes "sideways" with erratic moves to one side or the other, one can never know for sure if the next move is a breakout or down, a higher high or lower low. Then there are periods when the market behaviour is easily predictable. Once we can confirm we are in one of those periods we can know with a high level of certainty what happens next, these periods are what we call trends. On the left side we have a downtrend, easy to see. Lower highs and lower lows. We are in the process of entering a new uptrend now based on the high volume, bullish indicator and rounded bottom. In an uptrend we will see higher highs and higher lows. Then we have the "mirror image", if the decline on the left side was steep, we can expect the rise to behave in similar ways. We can expect a strong wave up (#1), then a medium-term correction (#2) followed by additional growth (#3). The bear market but in reverse. This is a simplified version of a bigger picture but I hope it gets the message across. I can see Elrond (EGLDUSDT) producing 333% in the initial wave. Namaste.
Long
by AlanSantana
2
Analysis of EGOLD/Tether Pair on Binance (1W Timeframe)The chart illustrates the price action of EGOLD against Tether on the Binance platform, observed on a weekly timeframe. Observations: Historically, EGOLD experienced a significant rally reaching an all-time high (ATH) near the $545.25 level. Following this, there was a retracement with the price finding support around the $50 mark. The Fibonacci retracement levels are distinctly marked, highlighting potential resistance and support areas. The price is currently in proximity to the 0.236 level, valued at approximately $126.55. A descending trendline is evident. A bullish reversal would necessitate a definitive break above this line. The chart includes the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators. Currently, the RSI sits within a neutral range, while the MACD portrays consolidation, absent of a clear bullish or bearish divergence. Short-Term (Scalp) Targets: Immediate resistance is pinpointed at the 0.236 Fibonacci level ($126.55). A break above this could lead to targets at 0.382 ($184.51) and subsequently, 0.5 ($231.01). Long-Term Targets: For the asset to indicate a sustained bullish momentum, it would need to surpass its previous ATH. Beyond this, the extended Fibonacci levels suggest potential new ATH targets: 1.618 level would place the price at around $880 (approximation based on the current chart's scale). 2.618 level could see it reach around $1,400. 3.618 level might elevate it to near $1,920. Breaking above the descending trendline and consistently staying above the indicated Fibonacci levels would hint at a potential move towards these new ATHs.
Long
by kargaa
2
MultiversX OverviewOverview MultiversX positions itself as an advanced public blockchain offering significant scalability gains over preceding smart contract blockchains like Ethereum by leveraging its unique Secure Proof of Stake (SPoS) algorithm combined with a truly state-sharded architecture. Improving upon other iterations, the Secure Proof of Stake consensus method integrated into MultiversX streamlines the process of random selection in the consensus group, cutting down selection times substantially. Additionally, built-in features, such as automatic transaction routing and state redundancy, play a pivotal role in minimizing latencies, helping to optimize the VM and, ultimately, user experience. These advancements allow MultiversX to attain transaction rates comparable to those of established platforms like VISA, while also ensuring speedy confirmation times and security. Elrond-to-MultiversX Rebrand MultiversX was originally founded and launched as Elrond with the ambition to rival heavyweights in the smart contract blockchain landscape, such as Ethereum and (at the time) EOS. In 2017, Lucian Todea, Beniamin Mincu, and Lucian Mincu came together with a shared vision and established Elrond. The company took a significant leap forward in 2019 when it secured $1.9 million in funding from a private investment round and an additional $3.25 million in a successful Initial Exchange Offering (IEO) on Binance Launchpad. A detailed breakdown of the initial token allocation is as follows: • Public sale tokens comprise 25% of the total supply. • Private sale tokens comprise 19% of the total supply. • Team tokens comprise 19% of the total supply. • Reserve tokens comprise 17% of the total supply. • Advisors received 2.5% of the total supply. • Ecosystem Rewards tokens comprise 7% of the total supply. • Marketing tokens comprise 8.5% of the total supply. • Community tokens comprise 2% of the total supply. In its initial stages, the cryptocurrency associated with Elrond was known as the ERD coin. However, with the launch of its mainnet in July 2020, the company decided to revamp its tokenomics, renaming its digital asset from ERD to eGLD coin to convey the notion of a digital store of value to the next billion crypto users. In a strategic move signaling its evolution and future aspirations, Elrond underwent a rebranding exercise in November 2022 to MultiversX. With the change came plans to introduce three new Web 3-native products, namely xFabric, xPortal, and xWorlds, all while still utilizing the underlying Elrond technology at the base layer. xFabric is introduced as a sovereign blockchain module that encompasses core blockchain applications. The platform is designed to provide a range of features and use cases, aiming to serve developers and institutions that seek adaptable blockchain solutions. xPortal is viewed as MultiversX’s “super-app,” intended to function as a gateway into the crypto financial economy and Metaverse. The platform, which is currently live, allows users to customize digital avatars, manage financial tools, including a debit card, and communicate with other users. Finally, developed in partnership with technology firm Improbable, xWorlds is positioned as a platform that offers experiences that integrate both xPortal and xFabric into a “world of metaverses.” While the specifics of these experiences are not detailed extensively in the announcement, the collaboration signifies MultiversX's effort to intertwine various products and platforms for a cohesive user experience. eGLD eGLD, MultiversX’s native token, occupies a multifaceted role within the MultiversX ecosystem, which has now evolved into MultiversX. The token serves not just as a digital currency but also underpins various functionalities critical to the blockchain's health and governance. Key Utilities of eGLD: • Transaction Fees: All transactions on the MultiversX blockchain require eGLD as payment for processing. • Network Security through Staking: eGLD tokens can be staked, a process that aids in enhancing the network's security. Stakeholders play a pivotal role in network validation and, in turn, are often rewarded for their commitment. • Governance: To foster a decentralized decision-making process, the MultiversX blockchain incorporates eGLD as its native token and medium of exchange. Token holders can influence and vote on pivotal network decisions, giving them a direct say in the blockchain's future trajectory. When conceptualizing eGLD, the MultiversX team envisioned a token that wouldn't merely operate as a digital currency but would parallel the innate value proposition of gold. However, they aimed to offer added functionalities that would potentially render eGLD more versatile than its tangible counterpart in the long-term perspective. An intriguing feature of eGLD is its supply cap, fixed at 31,415,926. Initially, early token holders were subjected to lockups, but, as of 2023, the entire supply is now circulating (image below). Such a cap is intentional, driving the token's scarcity and, by extension, its potential demand. Furthermore, instead of adopting a model that continually issues new tokens, MultiversX’s framework utilizes transaction fees. This mechanism effectively diminishes the theoretical ceiling of eGLD, further amplifying its scarcity over time. It's worth noting that as eGLD adoption grows, the dynamics of its supply and demand will continually evolve, reaffirming that the theoretical maximum supply remains a target rather than an absolute certainty. Transactions and Fees MultiversX uses a unique model to determine transaction costs. At the heart of this cost determination is the concept of gas, which acts as the fuel for transactions. Every MultiversX transaction is associated with a processing cost, quantified in terms of gas units. When broadcasting a transaction, it's imperative to allocate a gas limit. This parameter sets the maximum amount of gas units that the transaction might consume. Importantly, the actual gas consumption—referred to as 'used gas'—reflects the real quantity of gas units the network needs to complete the transaction. Any gas units not utilized are labeled 'remaining gas'. The network, when processing the transaction, segregates the used gas into two distinct categories: • Gas consumed by value transfers and data management: This component encompasses the core activities like moving eGLD values. • Gas involved in smart contract execution: This includes operations tied to executing both System and User-Defined Smart Contracts. It's pivotal to understand that standard eGLD transfers only tap into the first category, namely value movement and data management. In contrast, Smart Contract interactions utilize gas from both categories, depending on the complexity of the operations involved.MultiversX fees over time, denominated in eGLD. The processing fee, denominated in eGLD, is derived from two primary factors: the total gas consumption and the price per gas unit. This gas price, especially for the value transfer and data management component, is not arbitrary. Instead, the transaction must stipulate it, ensuring it meets or surpasses a predetermined threshold. Once the Network concludes the transaction processing, there's an interesting facet to the system—a potential gas refund. If the gas provided surpasses the actual consumption, thereby leading to an overpayment in fees, the Network returns a portion of the eGLD. This 'gas refund' corresponds to the unused or 'remaining gas.' Technology At its core, MultiversX is a “next generation” smart contract blockchain competing against the likes of Ethereum, Polygon, Near, Solana, etc. However, MultiversX has introduced two defining features to its architecture that others have not: 1. Adaptive State Sharding: This innovative approach involves fragmenting the blockchain's infrastructure, paving the way for a higher volume of transactions and programs, all while ensuring seamless operation. This ensures that as more computers are integrated into the network, MultiversX’s performance doesn't just maintain but escalates, potentially hitting an impressive benchmark of over 100,000 transactions every second. 2. Secure Proof-of-Stake (SPoS): A consensus mechanism tailor-made by MultiversX, SPoS is designed to synchronize disparate parts of the network, ensuring they align with a unified ledger. MultiversX WASM VM and Programming Languages Before diving into MutiversX’s novel Adaptive State Sharding or SPoS, it is worthwhile to understand its virtual machine carried over from its days as MultiversX, now referred to as the MultiversX Virtual Machine. What is unique about this VM is that it serves as an abstraction layer, designed to insulate smart contract developers from the intricacies of the system's internal architecture, simplifying their development experience. The VM is built using WebAssembly, often referred to as WASM. WASM is a binary instruction format tailored for stack-based virtual machines utilized by other projects like Polkadot and Solana. The benefit of WASM is that it offers developers a diverse toolkit; they're not limited to a single language like Solidity. Instead, they can harness the capabilities of languages like C, C++, Rust, C#, and Typescript (any supported language that can be compiled to bytecode). Despite multiple programming language options, the MultiversX team only supports (and therefore recommends) developers to use Rust. In the future, WASM will be able to compile Solidity code (the most popular smart contract language), making MultiversX and Ethereum/ERC-20 transactions frictionless. 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by ReflexivityResearch
EGLD Growth Spurt: Buy Your Ticket to Profit!"**Fundamental:** * Elrond is a highly scalable, secure, and fast blockchain platform designed for high-throughput decentralized applications (dApps). * Elrond's Secure Proof-of-Stake (SPoS) consensus mechanism allows for fast and energy-efficient transaction processing. * Elrond's sharding technology allows for horizontal scaling, meaning that the network can handle more transactions as more nodes are added. * Elrond's Maiar DEX is a decentralized exchange that offers fast and low-cost swaps between Elrond tokens. * Elrond's Metastaking feature allows users to stake their EGLD tokens to earn rewards from multiple validators. **Recent news:** * Elrond recently launched its mainnet upgrade, which includes a number of improvements such as increased throughput, reduced fees, and enhanced security. * Elrond has partnered with a number of major companies, including Samsung, Vodafone, and Nestle. * Elrond's Maiar DEX has seen significant growth in recent months, with over $1 billion in trading volume. **Disclaimer:** This is not financial advice. Do your own research before investing in any cryptocurrency.
Long
by MoonTradingForecast
EGLD/USDT Potential Upside? 👀 🚀 EGLD Today Analysis💎Paradisers, turn your attention to EGLDUSDT! We've observed it making a notable shift, retesting crucial support and gearing up for a bullish ascent. The break from its descending channel further amplifies this bullish sentiment. 💎 Currently, MultiversX is navigating within a descending channel, teetering on the edge of a breakout. When we align this with the medium time frame (MTF), it showcases impressive momentum. Given this, we're confident that in the short time frame (LTF), it's poised to approach our anticipated resistance level soon. 💎 Another intriguing observation: should the price of EGLD breach the support zone, we anticipate a downward trajectory. In such a scenario, it's crucial to strategize our entry points wisely. 💎 Remember to employ prudent trading strategies and use proper stop-loss measures! Stay alert to market movements and look forward to more insights
Long
by MyCryptoParadise
2
$EGLD Looks Good for me Get to Know the Divergence Pattern, Here's the Explanation! Types of Divergence There are two types of divergence, namely Regular Divergence and Hidden Divergence. The following is an explanation for both types. First, there are regular divergences which are signs to indicate a trend reversal. There are two regular divergences, namely regular bearish divergence and regular bullish divergence. Regular Bullish will occur if the chart price is in a lower low position and the indicator is in a higher low position. This sign is an indication that a trend reversal or reversal, from a downtrend to an uptrend, namely bullish.
Long
by UnknownUnicorn26572303
1