EGLD-USDT (Investment Analysis)Elrond presents itself as a Scalable blockchain solution that leverages the Sharding technique to offer extremely fast transaction speeds. It has developed Maiar- a digital wallet and global payments app with the aim to redefine how we interact with money by allowing easy yet secured accessibility and exchange of your digital assets. By June 2021, Maiar has bagged 400K users worldwide depicting the traction from the community.
Year-to-date, Elrond has yielded returns of ~436% while it registered meteoric gains of 900% at its All-Time High of ~$245. While EGLD traded at $53.4 on June 22, since then, the token is depicting a shift in the Bearish momentum.
On the Daily Time Frame, Elrond has managed to cross its 50 DEMA and has given a consecutive close above it since Aug 2. It reflects a shift in the Bear momentum while the prevailing sentiments in the crypto ecosystem supporting it.
The support to the lower side is present at $100 followed by $110 while it may face resistance at the level of $150 followed by $170. As EGLD has managed to give a close above the level of $120, technically, it looks strong and can be Accumulated with a long term investment mindset.
