Introduction
💡 The currency $EGLD represents one of the cryptocurrencies that has gained wide interest in the market. This analysis is based on recent data and technical details to analyze the currency's performance and future expectations.
Current data
- **Current price**: 19.614 USDT 💵
- **Change**: +0.72% 📈
- **24-hour trading volume**: 739,771.1 EGLD
- **24-hour trading volume in USDT**: 14.60M
- **Fair price**: 19.620 USDT
1. **Moving Averages**:
- **EMA (50)**: 19.499
- **EMA (100)**: 18.881
- **EMA (200)**: 18.047
- The current price appears to be above the moving averages, indicating a potential upward trend. ⬆️
2. **Relative Strength Index (RSI)**:
- **RSI (6)**: 39.765
- **RSI (14)**: 48.076
- **RSI (24)**: 50.991
- These values indicate that the market is in a "balance" zone, and although the RSI (6) is close to 30, indicating potential weakness, other values show the possibility of price stabilization. ⚖️
3. **OBV Indicator**: 109,697.900
- Indicates continuous buying pressure on the currency. 📊
Price prediction
Based on technical analysis, if the price continues to stay above the moving averages, EGLD could see a rise towards the level of 20.950 USDT. However, caution should be exercised for any break below the level of 18.636 USDT, as this could lead to a price correction. ⚡️
Price Targets (TP)
- **TP1**: 20.375 USDT 🚀
- **TP2**: 20.950 USDT 🌟
- **TP3**: 21.500 USDT 🌈
Trading strategies
- **Buy**:
- Buying is preferred at the level of 19.614 USDT targeting TP1 at 20.375 USDT.
- **Sell**:
- If the price reaches TP2 at 20.950 USDT, consideration can be given to selling part of the portfolio.
- Setting a stop-loss below the 200 moving average level (18.047 USDT) can represent a good safety strategy. 🛡️
Summary
📅 Technical analysis indicators suggest that EGLD may continue its upward trend within the current price range. However, traders should be cautious and follow news and market developments to ensure the best trading decisions. ⚠️
#TradeStories #SaylorBTCPurchase #CryptoComeback #BTCBackto100K