Elrond Price Analysis: EGLD Coin Price Observes A Correction After Seeing An Upside Momentum

• EGLD coin price is currently seeing an upside momentum which can push the asset price to a new high. Meanwhile, it has seen a gain of more than 1.26% in the past 24 hours.
• Elrond price technical indicators hint towards a strong upside momentum for the future. Meanwhile, EGLD/BTC pair has seen a gain of more than 0.63% in the past 24 hours.

Why Invest In EGLD Coin?

EGLD coin price is currently observing a downside correction in the daily chart but can soon revert to the uptrend in the future. Elrond’s price is currently up by more than 0.64% in the past 24 hours and is trading near the value of $265.  The asset has an ROI of 300% which benefitted various investors and people in the past. Elrond networks have extremely fast transaction speed by the sharding method used by them. EGLD calls itself a technological hub for this new era of the new 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 needs and risk capacity.

The asset began in 2017 and the main people behind the network are Beniamin and Luciam Todea. The market cap of the coin along with the market dominance is seeing a surge in the past 24 hours.

Technical Indicators Of EGLD Coin Hints Towards A Strong Upside Momentum

EGLD crypto price on the weekly technical chart hints towards a strong upside momentum in the price. Meanwhile, on the daily chart the price is seeing a consolidation. EGLD coin price resistance while going upwards can be seen near $300. Meanwhile, the support of the coin can be seen near $200. The price is currently trading above the 50 and 100 Daily Moving Average, with a positive crossover in the future. The 100MA  line is near $120 making it a temporary bounceback zone for the coin. If the price jumps above $250 then a strong upside momentum can be seen. EGLD/BTC pair can also see a new high in the future.

Conclusion

EGLD coin price is currently seeing a strong upside momentum and can soon see a new high. EGLD/BTC pair can also observe a strong upside momentum in the future

Technical Levels

Major Support:$200

Major Resistance:$300

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