Currency $EGLD touches support and is preparing to launch? Technical analysis and promising trading strategy
Technical analysis for currency #EGLD/USDT
Current price: $18.50
Bollinger Bands: The price is moving within the range with a tendency to bounce from the midline (MB), reflecting the likelihood of continuing the rise towards the upper limit at $20.5
Moving Averages MA (5 and 10): The price has started to cross above MA10, enhancing the chances of resuming the upward trend.
RSI Indicator (6): At 53.4, which is a neutral level leaning towards positive without being overbought.
MACD Indicator: Still in the negative zone but showing signs of a positive crossover soon.
Proposed trading strategy: "Launching from support"
Proposed buying area: Between $18.2 and $18.4
Stop loss: Below the level of $17.6
Profit targets:
First target: $19.30
Second target: $20.50
Extended target: $22.10 if momentum continues
Your opinion matters! Do you think EGLD is preparing for a price explosion?
