- EGLD coin price is seeing a correction on the daily chart and can soon see test a new low in the future. Meanwhile, it is up by more than 5% in the past 24 hours.
- Elrond price technical indicators suggest a weak downside momentum in price . Meanwhile, EGLD/BTC pair is also up by more than 7% in the intraday session
Why Invest In EGLD Coin?
EGLD coin price is currently seeing a correction on the daily chart and might hit a new low in the future. Elrond price has observed a gain of more than 4% and is trading near the value of $233. The asset has an ROI of 300% which has benefitted various classes of investors. Elrond network is an extremely fast transaction speed by the sharding method used in its blockchain. EGLD calls themselves a technological hub for this new era of the internet . Its smart contracts execution platform has a speed of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. One can invest in EGLD as per their risk capacity and price adversity.
The asset was launched in 2017 and the main people behind the network is Beniamin and Luciam Todea. The market cap of the coin along with the market dominance has seen an increase in the past few weeks.
Technical Indicators Of EGLD Suggests A Strong Upside Momentum In Price
EGLD crypto price on the weekly technical chart suggests a strong upside momentum in price for the future. Meanwhile, on the daily chart the price is observing a correction mode. EGLD coin price resistance on the uptrend can be seen near the value of $300. Meanwhile, the support of the coin can be observed near $200. The price is currently trading above the 50 and 100 Daily Moving Average, with a posit. The 100MA line is near $120 making it a temporary bounceback zone for the coin. If the price jumps above $250 then a strong bullish trend can be seen. EGLD/BTC pair might also jump for new high in the future
Conclusion
EGLD coin price is currently observing a strong upside trend and can soon see a new high in the future.. EGLD/BTC pair can also observe a strong upside momentum.
Technical Levels
Major Support:$200
Major Resistance:$300