Is EGL1 the horn of a bull market or a trap set by the main players?
Today, EGL1 skyrocketed! It jumped 18% right after the opening, and the trading volume surged to the third highest in history, can you believe it? Doesn't the trend look like a rocket launch?
But don't rush to celebrate just yet—technically, the daily MACD just crossed golden, and the moving averages are in a bullish arrangement, clearly indicating that the bulls are in control! But here comes the problem: is this surge driven by the main players with real capital, or is it just an old trick of “painting the door” to harvest gains?
To be honest, EGL1's ecosystem has been very active lately, with on-chain activity soaring by 300%, and a leading exchange has secretly listed perpetual contracts.
However! Old-timers in the crypto world know that when good news is fully priced in, it often leads to bad news! Is it wise to chase high prices now? Be careful not to get caught in the wind at the mountain peak! However, if EGL1 can hold its support level, the next wave might directly break through the previous high!
So, is it time to go all in and risk it all, or should you patiently wait for a correction? This question is like asking “which direction will the sun rise tomorrow”—you have to figure it out yourself! Anyway, my position is already locked in, what about you?