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EGLDUSDT trade ideas

EGLDUSDT.1DLooking at the current EGLD/USDT chart, we see a fascinating technical landscape unfolding. First, let's discuss the support and resistance levels I've identified: Resistance Levels (R1 and R2): R1 stands at $52.70, which has acted as a significant barrier since early 2023, and R2 is at $82.25, a level last tested in late 2022. These resistance points are critical for the bullish scenario and would need to be broken with substantial volume for a sustained upward movement. Support Level (S1): The S1 at $22.60 is pivotal. This level has been tested and held firm throughout mid-2023, indicating strong buying interest. Now, let's delve into the technical indicators: Relative Strength Index (RSI): The RSI is currently around 38.97, which suggests that EGLD is neither overbought nor oversold. This neutral RSI provides room for the price to move in either direction without immediate pressure from overbought or oversold conditions. Moving Average Convergence Divergence (MACD): The MACD line is below the signal line but above the zero line, which typically suggests a bearish momentum. However, the proximity to the zero line also indicates that the negative momentum is not overwhelmingly strong. Given these observations, my perspective is cautiously optimistic. The support at $22.60 provides a good foundation for potential upward movement, but the market will need to see significant buying volume and a positive shift in broader market sentiment to challenge and possibly break through the resistance levels. Investors should keep a close eye on the MACD and RSI for early signs of momentum changes and adjust their strategies accordingly. If the price fails to hold the S1 support, it could lead to a retest of lower levels, but for now, the setup looks promising for buyers at current levels, provided the support holds strong.
Long
by MarsSignals
Will MultiversX (EGLD) print a 1500% move to $400?On the above weekly chart price action has recently corrected 60%. A number of reasons now exist to consider a long position. Including: 1) Trend reversal. Higher highs higher lows print. 2) Past resistance (red arrows) now confirm support. 3) 1 and 2 is also true for RSI 4) The falling wedge. With the confirmation of 1 and 2 a forecast can be made as is measured from within the wedge (blue arrows). A 1700% print from the support confirmation to almost $500. Is it possible price action continues correcting? Sure. Is it probable? No Ww Type: trade Risk: <=6% Timeframe for long: now Return: Read the idea again
Long
by without_worries
8
EGLDUSDT Chart UpdateHello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: EGLD has formed a falling wedge pattern with a breakout and close above the resistance trendline. Technically, this is a bullish pattern, and we will likely see a bullish trend for EGLD in the upcoming days. Currently, the 50 EMA is holding the price at $34.5 as a strong resistance. EGLD is yet to show a retest after the breakout; therefore, a retest at $30 to $32 is expected. Observations: ~ Primary Resistance: 50 EMA at $34.5. ~ Support: $30 to $32. ~ Target: $65 to $75. ~ Invalidation Point: A breakdown and close below $26.43. DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
EGLDUSDT | Ready for Another Surge?Market Context EGLDUSDT has been on a fantastic upward trajectory, and it looks like the momentum might continue! This could be a golden opportunity for a quick trade with an impressive risk-reward ratio of 4.5:1. Chart Analysis • Strong Upward Movement: EGLDUSDT has been climbing steadily, showing strong bullish momentum that could push it even higher. • Bullish Indicators: Various technical indicators are aligning to suggest that this upward movement has the potential to continue. Strategy I’m diving in with a trade aiming for a 4.5:1 risk-reward ratio. This setup is all about capturing the next leg up in EGLDUSDT’s bullish run. Action Plan Setting my entry and watching closely. If EGLDUSDT keeps up its current pace, we could see some exciting gains. Buckle up and let’s ride this bullish wave together! Good luck, everyone! 🚀💪
Long
by minno91
EGLD - UPDATE - WAVE 2 OR 4 Obviously price reversed halfway on us and now it is about to hit the stop loss but the remember the setup below on previous analysis. Now that we didn't reach target for that long this clearly gives a sign that we are in some kind of wave C-orange of wave 2 or 4-yellow and to avoid unnecessary loss the stop loss will be removed and DCAed within the orange box since BINANCE:EGLDUSDT is bullish mid to long term. Depending on you risk tolerance, we you believe this to be wave 4-yellow rather than wave 2 then your invalidation level (red dotted line) is around $28.7 area. PREVIOUS ANALYSIS OTHER ANALYSIS
by DewyCandles
EGLD's Situation: What Shall we Expect !!! BINANCE:EGLDUSDT Produced the descending resistance on daily timeframe , Up we go if we do breakout. Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
1
Long signal for EGLD/USDTThis technical analysis is based on the daily chart of BINANCE:EGLDUSDT on the Binance exchange. In this analysis, a price channel is drawn, and support and resistance levels are evaluated. Price Channel Analysis: The price is currently within a price channel ranging from 35.08 to 51.38 USDT. The suggested entry point is around 38.38 USDT. Entry and Exit Points: Entry: 38.38 USDT Take Profit: 51.38 USDT Stop Loss: 35.08 USDT Conclusion: This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 3.72, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
Long
by QuantCT
MultiversX (ELGD) upward squeeze is comingIn both the weekly and daily charts, EGLD is approaching significant upward momentum. While many other altcoins have already bullishly retraced to the 0.5 Fibonacci level, EGLD has lagged behind, making its movement more predictable. My current target is the 0.5 Fibonacci level, highlighted in green on the chart. The price is currently supported by multiple strong levels, such as the 0.618 Fibonacci retracement from the Q1 '24 upswing. Additionally, EGLD has broken out of a descending channel and is now retesting it. Notably, accumulation around this price point has been ongoing for nearly 750 days, reinforcing its stability.
Long
by robkarels
1
EGLD/USDT Preparing for an Explosive Breakout | Positive Signs👀💎Get ready for a potential breakout with #EGLDUSDT as it nears the upper boundary of its descending channel. Currently testing the upper limits at a crucial support of $35.15, there's a robust chance for #EGLD to smash through the channel, powered by the momentum it has built up. 💎If #MultiversX stumbles and does not sustain the push from the $35.15 level, descending below, it may signal an ongoing bearish phase, leading to the next vital demand zone at $32.91. This level is well-known for its dynamic bullish recoveries, supported by substantial liquidity. 💎If CRYPTOCAP:EGLD revisits this zone, it’s imperative for the price to firmly rebound to preserve the support. Failure to achieve this could boost bearish forces, sour market sentiment, and potentially prompt a steeper price fall. 💎Keep your strategies nimble and your vigilance high, Paradisers. Your ParadiseTeam is closely monitoring and ready to guide you through the evolving dynamics of the #MultiversX market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon