- EGLD token price is observing a weak bullish recovery on the daily chart but can soon gain its momentum. Meanwhile, the price is seeing an intraday gain of
- Technical Indicators suggest a consolidation in EGLD price for some time. Meanwhile, EGLD/BTC pair is observing an uptrend.
Why Invest In EGLD Token?
Elrond gives an extremely fast transaction speed with the help of sharding and other features. They call themselves a technological ecosystem of the new internet. It includes various things like fintech, smart contracts, and many others. Its smart contracts execution platform is seeing 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. EGLD was co-founded by Beniamin and Lucian Mincu alongside Lucian Todea in 2017. They wanted to solve the most pressing problem of the blockchain which is scalability. EGLD token price is currently in a slump but can soon see a recovery to higher levels.
Technical Indicators Suggests A Consolidation In EGLD Token Price
EGLD token on the weekly time frame is still looking weak for bullish momentum. Meanwhile, it shows the same consolidation trend on the daily chart. The resistance for Elrond on the upper side can be seen near $150. The support for asset price can be observed near $50. The price is currently below the 50 and 100 Daily Moving Average. The moving average has given a negative crossover on the daily chart hinting at a downtrend. The 100MA (Yellow) line is at ?? making it a temporary resistance for the since. The coin is beginning to show recovery amid the fall along with BTC. If the price of the asset goes above $150, then an uptrend up to $250 can be seen. EGLD/BTC pair can soon see a bullish recovery and reach higher levels.
RSI(Bullish): RSI for the coin is currently at 35.82, hinting at its presence in the neutral area. There is a small positive slope formation in it, which depicts an uptrend in price. RSI for the coin shows a bullish momentum
EGLD token price has seen a 20X gain in a very short period of time. It has remained very profitable to its investors in the past and can be the same in the future. Elrond price is observing a weak bullish recovery but can soon gain its strength. An Investor can do their due diligence before investing.