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Elrondsignals

EGLDUSD hit the 1W MA50 for the first time in 1 year!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 close above the 1W MA50, we will buy and our technical target will be the 2.0 Fibonacci level at 93.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:EGLDUSDLong
by TradingShot
2
EGLDUSD between the 1D MA50 and 200 waiting for a break-out!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 (i.e. Bearish Divergence) similar to October 04 - November 03, we may see a strong correction towards the market bottom if the price closes a 1D candle below the 1D MA50. On the other hand, since the longer term pattern has been a Channel Up since the June 13 Low, a closing above the 1D MA200, will be a bullish break-out for us, targeting the top of the Channel Down. A pattern that may have gone unnoticed and could be the one that will influence the price the most, is the Inverse Head and Shoulders (IH&S) that started forming after the November 09 drop of the FTX crash. Its 0.618 - 0.5 Fibonacci retracement levels are the Support Zone so far, its 1.5 Fibonacci extension can coincide with a Lower High on the Channel Down, and if broken, our ultimate target will be the 2.0 Fib extension. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:EGLDUSD
by TradingShot
6
EGLDUSDT Massive break above the 1D MA100.*** *** For this particular analysis on Elrond we are using the EGLDUSDT symbol on the OKX exchange. *** *** The idea is on the 1D time-frame where EGLD broke above the Falling Wedge pattern that it has been trading in for a little less than 2 months. The most important development however is that today it broke above its 1D MA100 (green trend-line) for the first time since August 14. If the price manages to close the 1D candle above it, it will be the first time to do so since April 19! That would be on its own a massive bullish signal for the token as technically the next long-term target would be the 1D MA200 (orange trend-line), even though there are two Resistance levels involved (59.10 and 69.70) that shorter term traders can target. Be careful however of the 1D RSI entering the Resistance Zone that has been holding throughout the whole year. A rejection there should make you consider taking profits earlier. On the positive side, the 1D MACD is on a strong Bullish Cross. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
3
EGLDUSD Critical Lower High testElrond (EGLDUSD) is having a strong 1D green candle currently but it remains under the selling pressure of a Lower Highs trend-line since the March 28 High. That price action in fact resembles the selling pattern of December 2021 - early January 2022. The price continuously failed to break above the Lower Highs and as a result dipped another -37% to price the January 22 Low. A -37% from yesterday's lowis around the $65.45 mark. If the 2021 fractal is however counted from the November 23 High (with the 1D RSI agreeing to this), then a 1.382 Fibonacci extension would be more accurate for the next Low in case of a rejection, which is currently around $79.30. If however the Lower Highs trend-line breaks, we expect aggregated buying towards the 1D MA200 (orange trend-line) as in the case of the February 11 High. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:EGLDUSD
by TradingShot
3
EGLDUSD is holding its 1W MA50. Bottom formation possible.Elrond, a crowd favorite among crypto traders, hit last week its 1W MA50 (blue trend-line) and so far on the current 1W candle is holding it. This makes it a Support, in fact it has been the long-term Support since the May - June 2020 bullish break-out. As you see on this weekly time-frame, using the help of the Sine Waves to better illustrate EGLD's cyclical phases, when the price hits the 1W MA50 it forms a Support, consolidates for around a month and then starts a strong parabolic rally. The previous corrections have both been around -80% and even though the current is just short of -70%, we have to watch the 1W MA50 closely for a potential bottom formation this month into February. Our next Target is the 5.0 Fibonacci extension level at $765.00. A break above the Higher Highs trend-line during the next rally phase, would place the target even higher within Fib 5.0 and Fib 6.0. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:EGLDUSD
by TradingShot
3