EGLDUSDT trade ideas
EGLDUSDT | APPROACHING TO SUPPORTEGLDUSDT recently broken the rising wedge. The price is making lower lows and lower highs. We are expecting price will took support from mentioned horizontal support zone.
We are watching out the price action on support zone for trend reversal.
Trade your levels accordingly.
Elrond: Bearish of Altcoins Doesn't End Yet, Going to Under $30?Hello Fellow Elrond Coin Investor/Trader, Here's a Technical outlook of EGLDUSDT!
Support our content by smashing the like and follow button, you also can share your opinion in the comment section below.
EGLDUSDT has broken out of a rising wedge pattern. Furthermore, The MACD indicator created a death cross, indicating potential bearish movement ahead.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the cryptocurrency"
EGLDHELLO GUYS THIS MY IDEA 💡ABOUT EGLD is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Buyers from this area will be defend this Long position..
and when the price come back to this area, strong Buyers will be push up the market again..
uptrend + Support from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
Cautious, EGLD Historical resistance 1DHello fellas , as you can see we have strong resistance at blue rectangle, if we didn’t breakthrough it , i think we will go to the bottom of the yellow trend 51$ , if we breakthrough it i think we will have good bull run inshallah to 80$ as first target then we will update about it , also this is critical area you must put your stop losses and be careful.
Happy trading and I’m happy to receive your thoughts :)
bearish continuation pattern or trend is about to change ?Hello traders 🐺 .
In the chart above we can see two different probable scenario for the EGLD , but in my opinion because of the market situation there is more chance to break the triangle toward the upside and touch the bullish price target ; because as you can see RSI is trying to goes above the 50 and change the mode of the price to the bullish .
the first resistance for the price is around the daily descending channel but if price break above it , we could expect to test the 0.786 Fibonacci level .
if EGLD break this triangle toward the downside the first support level is around the previous low and if bears succeed to push the price lower we can expect another retest of the lower trend line of the channel .
Good luck my friends 😉🐺 .
EGLDUSDT ButterflyButterfly
The Butterfly Pattern is a distinct 5-point extension structure that was discovered by Bryce Gilmore and further defined by Scott Carney. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg lies at 0.786 and the PRZ consists of 3 converging harmonic levels: 1) 1.27 extension of the primary XA leg, 2) AB=CD pattern, either equivalent or 1.27 and 3) Extreme BC projection of 2.00, 2.24 or 2.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. Common stop levels lie behind the next structure level after the D point or the 1.41 extension of XA. Conservative traders look for additional confirmation. These patterns can be bearish and bullish. TradingView has a smart XABCD Pattern drawing tool to visually identify 5-point reversal structures.
EGLDUSDT is creating a penanntthe price had a nice breakout from the daily resistance and now the market is testing the 4h resistance at 67.7$ area.
the price retested the daily resistance as new support on 64$ area
How to approach it?
IF the price is going to have a new breakout from the 4h resistance and retest it as new support, According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
EGLDUSDT | RESISTANCE ZONEEGLDUSDT has broken the falling resistance but price has hit the horizontal resistance and took a beat. We are expecting a price fall from here. The retest of resistance zone will be a good zone to take a short position.
The bears are in control below the resistance zone. While bulls needs to break above the resistance zone.
Trade your levels accordingly.
