- The EGLD coin price jumps 20% in price as it forms multiple bullish candles in the 4-hour chart.
- The EGLD/BTC pair trades at 0.007297 BTC with a rise of 18.49%.
- The 24 -hours volume for EGLD coin is $837 Million, indicating a 75% hike.
The EGLD coin price action shows a bull run in the 4-hour chart as it jumps more than 20% in the past 24 hours.Thus, resulting in multiple bullish candles and collapse of multiple pivot resistance levels.
The EGLD price shows a bullish trend, with its price trading higher than all the crucial EMAs 50, 100, and 200. Moreover, the chart shows the EMAs ready to provide support in the 4-hour timeframe.
The coin price shows a rising bull run; however, the price action indicate resistance levels at the $450 and $480 mark if the price continues to grow. Moreover, on the flip side, the support level is at $400.
Will The EGLD Coin Price Surpass The $500 Mark?
As we have already mentioned, the EGLD coin’s price is showing growth in the present bull run resulting in the breakout of the $435 mark. Moreover, the increase in trading volume indicates a rise in underlying bullish sentiments.
As of press time, the coin’s price is $438. There has been a increase in value of 23% during the past 24 hours. EGLD’s intraday trading volume also rose by 75%.
The RSI indicator indicates a rise for underlying bullsihness as the slope rises towards the overbought zone. The price action is consistent with the slope and enters the “nearly overbought”. The RSI indicator, therefore, gives a buy signal.
MACD indicators show that the MACD indicator is moving above the signal line, which is in a bullish alignment in the 4-hour chart. These lines are located above the centerline. This creates a buy sign.
Conclusion: From a technical perspective, the EGLD coin shows a phenomenal bull run in action, evident by the multiple bullish engulfing candlesticks in the 4-hour chart. And, the price action shows higher chances of a uptrend surpassing the $500 mark in the near future.
Support – $400
Resistance – $450 and $480