Around a week ago I made an analysis on EGLD. Here I argued that EGLD was following a bullish channel and was most likely making a shot for a new all time highs in the near future.
As of today, EGLD has finally broken out of the $255 resistance. Currently, BTC is slightly bearish, and EGLD is testing the $255 prior resistance as support. In case the $255 support holds, I'm looking at a strong move towards $300, potentially $325.
In case the support doesn't hold, expect the channel support to offer a potential bounce.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.