Momentum is starting to shift here as price attempts to reclaim its lost intraday range, and the reaction from the lower wick shows buyers stepping back in around support. With $EGLD
holding above the recovery zone, the chart suggests a potential short-term push upward as long as this base remains protected. The recent candles reflect stabilization after a sharp dip, indicating the possibility of continuation toward the next liquidity pocket.
This setup favors a long opportunity because the market has printed a strong bullish rejection from the lower band, showing early signs of demand rebuilding. Any small retracement toward the mid-support would likely act as a retest before continuation. Only a clean breakdown below the stop-loss region would invalidate the bullish outlook and open the door for a deeper pullback.
Short Outlook: Bears only regain control if price drops under 8.26 — above that level, upward continuation remains the higher-probability scenario.