Lately, some news and hype happened around this coin in the crypto market social media I do not get why ppl tend to jump in this kinda PA only price tags to be interested in this coin are around 12 and 3 $ area we will be buying this there.
I don't believe EGLD is going to go higher. Not just yet. I drawed the two options, one slightly better than the other, for the next 6 months. Right now, it is clearly rejected from previous S/R levels and from the 9 weekly moving average.
The current price is ok but to generate enough holders for 2023 we need a decent dip. Any of the green lower lines would create a strong positive outcome. Previous trades was outstanding and performed very well. Coinbase is listing so i assume there will be alot more volume next year to make this chart a reality. That all i have to say. Will update when i get a...
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Hi everyone, here's a scenario for EGLD that, let's say, takes a hefty beating. Unfortunately, EGLD has opened a door to one. Sadly, this scenario could pave the way for a downward impulse in this Main Zone Z (in blue). Essentially, the Z's can do anything. The strongest structural supports are found at $24.66, $21.12, $19.70, $10.36, $9.18, and $7.33. The pole of...
So we need to overcome 30 weekly average to be bullish. If not, I would say we can repeat the rejection of the past and go as far down as 23$ as a final step by end of March to recover from there, as last point of the Wyckoff distribution schematic. I estimated target bottom by looking at previous S/R levels and using a pitchfork to get the diagonal lines that...
On this EW weekly count, it seems that we are in the buy zone. The 1-2, and 3-4 legs respect the EW rules and they hit the targets accordingly. The fib levels also confirm this scenario. This is a long-term play but the good part is that the longer the time interval the higher the probability of working out and of course the higher the payout.
Elliott Wave Analysis EGLDUSD Details on the chart
Elliott Wave Analysis EGLDUSD Details on the chart
We just broke Resistance 1, but there is another Resistance 2. Even for Resistance 1, it could be a Fakeout. As per the Wedge that has formed, I would be inclined to see three touches on the lower side (only two for the moment), so I would not be surprise to go under previous low, also as a spring of the accumulation. This is still a bearish evaluation, less...
The blue dashed line on this chart marks the low that Elrond (EGLDUSD) produced back in January 2023/December 2022, this is a most important level as it precedes a bullish wave that followed a strong bear market. Seeing this pair going below this level is definitely bad news, the good news is that EGLD is now back above it and this confirms the bullish...
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Elrond (EGLDUSD) hit today its 1W MA50 (blue trend-line) for the first time since April 2022. If it manages to close a 1W candle above it, it will be a major buy signal. On top of that, the long-term pattern appears to be an Inverse Head and Shoulders (IH&S), which technically is a formation that emerges on market bottoms. As a result, if we get that 1W candle...
Currently we are in a descending channel (falling wedge) so I expect that it will reach 29 ish due to Elliot Wave theory ABC
Elrond (EGLDUSD) is rebounding since yesterday after coming very close to the 1D MA50 (blue trend-line), which has been supporting since the January 13 bullish break-out. Practically after the February 08 rejection, it has been ranging within the 1D MA50 and the 1D MA200 (orange trend-line) waiting for a break-out to gain volume. With the 1D RSI on a Channel Down...
As I mentioned before, we could be currently in stage 2 of this inflationary bear market. This means that inflation peaked in September and we can expect to see lower inflation for a few months, followed by a recession. This will likely lead to more bear market rallies until the Federal Reserve intervenes again and introduces more money into the market, leading to...