- Elrond price has pumped around 25% in the last three consecutive trading sessions.
- The crypto asset is trying to recover till 20, 50, 100 and 200-days Daily Moving Average.
- The pair of EGLD/BTC is at 0.002726 BTC with an intraday gain of 10.32%.
Elrond price has gained 16% of its market capitalization in the last 24-hour period. Elrond token is expected to rise if Elrond maintains focus on improving the platform’s robustness and crosschain functionality. As this hike in EGLD token price proves that Elrond is trying to expand its capabilities and is trying to gain a certain uptrend momentum over the daily chart. EGLD coin price is trying to adapt a strong uptrend momentum over the chart but EGLD still needs to attract more buyers at the moment.
Elrond price is presently CMP at $84 and has gained 16.94% of its market capitalization in the last 24-hour period. Trading Volume has significantly increased by 98.68% in the intraday trading session. This shows that buyers are getting attracted towards the EGLD coin to prepare its bullish rally. However, due to the current circumstances of bear market EGL may see short sell-off in between its bullish momentum. EGLD bulls need to get pretty determined regarding this bullish momentum.
Volume to market cap ratio is 0.05564. Elornd coin price is trying to accumulate bulls and gain a strong uptrend momentum over the daily chart. Elrond is said to be a great and promising project with massive potential. EGLD token is coming from the all time high from November 2021 at $558, the token has been falling from the start of 2022.
Long term view of EGLD by Fib retracement can be seen above $558, that is $861 and $1353 these levels show the EGLD token’s potential. EGLD coin as soon as starts its recover phase will first aim to recover itself till all time high (i.e. $558) and then it may head towards the remaining highs.
What do Technical Indicators Suggest about EGLD?
EGLD coin price is trading with strong uptrend momentum over the daily chart. It’s a matter of time to see if bulls sustain or get detained from the current level. Technical indicators suggest uptrend momentum of EGLD coin. Relative Strength Index showcases that EGLD coin is trying to recover towards neutrality after escaping the oversold territory.
MACD exhibits a positive crossover and a strong bullish momentum of the EGLD coin. The MACD line crossed the signal line upwards and registered a positive crossover.
Conclusion
Elrond price has gained 16% of its market capitalization in the last 24-hour period. Elornd coin price is trying to accumulate bulls and gain a strong uptrend momentum over the daily chart. Elrond is said to be a great and promising project with massive potential. It’s a matter of time to see if bulls sustain or get detained from the current level. Technical indicators suggest uptrend momentum of EGLD coin.
Technical Levels
Support Levels: $65.00
Resistance Levels: $110.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.