EGLD/USD The technical outlook for the market shows a strong bullish trend. Also, EGLD recently reclaimed the previous all-time high (ATH) of $300, which is EGLD shows that there is even more potential for But how far can EGLD take this rally?
The 50-day EMA provides support duty to the price of EGLD. Intraday trading volume on EGLD is around $182.2 million, which is an increase of 52%shows i.
The EGLD is showing an uptrend by pointing to a series of higher highs and higher lows on the technical chart. Even if the current rally turns out to be a strong rejection at the $300 resistance, on November 3, the coin price caught a strong increase in trading volume and made a definite exit from this price.
EGLD price matters EMAIt is trading above the 20s (20, 50, 100 and 200), which indicates a strong bullish alignment on its chart. also 50 EMA line provides dynamic support to the EGLD price.
Moving above the neutral line (50), the Relative Strength Index indicates a bullish trend. Aside from that, the RSI chart is also showing a clear decline, suggesting slight weakness among crypto buyers.
EGLD/USD 4-Hour Time Chart
After EGLD broke the $300 resistance, it pulled back again to test whether the price could actually sustain these levels. The EGLD chart level shows a large clump of traditional pivot levels where crypto traders can identify possible resistance level. Based on these pivots, the closest resistance for EGLD was $344 and $370.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.