EGLD Price Update & Technical Analysis in a 2-Day Timeframe

1 בספט׳

Hello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

EGLD failed to break above the 50 EMA resistance and was rejected. The current market price of $28.8 is trying to hold strong, but it will likely weaken if there's insufficient volume.

The invalidation point at $26 is also a support trendline, and a close below this level will likely trigger a drop to the lower support level at $22.4.

For EGLD to turn bullish, it must break the 50 EMA as it did in October 2023.

Key levels:

~ Primary Resistance: 50 EMA.
~ Support: $26.
~ Target: $65 to $75.
~ Adjusted Invalidation Point: A breakdown and close below $22.40.

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE