$EGLD has experienced a significant drop of 4.089% over the past 24 hours.
The price fluctuated between a high of 13.56 and a low of 12.87.
With the overall market in a downtrend, EGLD faces consistent selling pressure.
The Bollinger Bands indicate a tight range, suggesting potential volatility ahead as it approaches the lower band at 12.88.
Support remains firm at 12.87, while resistance is at 13.3.
Macroeconomic uncertainty, coupled with undefined Bitcoin movements, may contribute to EGLD's price instability.
Traders should consider a short-term approach to capitalize on potential rebounds, given recent volatility.
Key takeaway: Pay attention to macroeconomic indicators, as they play a vital role in shaping EGLD's near-term price movements.
