- EGLD price is seeing a weak bullish rebound on the daily chart but may soon gain momentum. Meanwhile, the price is seeing an intraday gain of 1.15%
- Elrond Token Technical suggests a small positive correction for the price. Meanwhile, the EGLD / BTC pair is experiencing weak bullish momentum
Why invest in EGLD coins?
The EGLD coin is currently trading near the $ 62.1 level with an intraday gain of 0.5%. It has a ROI greater than 260% and may increase in the future. Elrond Token offers extremely fast transaction speed with the help of sharding. EGLD describes itself as a technological ecosystem for the new Internet. The smart contract execution platform has a speed of 15,000 transactions per second, six seconds of latency, and a transaction cost of $ 0.001. EGLD was founded in 2017 by Beniamin and Lucian Mincu together with Lucian Todea. They wanted to solve the blockchain’s most pressing problem, namely scalability. The EGLD Coin price is currently experiencing weak bullish momentum and may see new highs in the future.
Technical indicators predict a consolidation of the EGLD coin price
Source: trade view
The EGLD coin in the weekly timeframe is observing weak bullish momentum. Meanwhile, she is watching an uptrend on the daily chart. Resistance for the EGLD coin can be seen near USD 120 as it goes up. Meanwhile, support for the coin can be seen at $ 40. The price is currently trading below the 50 and 100 daily moving averages. The negative moving average crossover can push the price down. The 100MA line (yellow) is at $ 117, making it a temporary resistance for the coin. The coin is starting to recover after the fall of BTC. If the price of the asset goes above $ 100, an upward trend up to $ 250 can be observed. The EGLD / BTC pair can also see bullish momentum and may soon break previous resistance.
The EGLD Coin price has experienced more than 20 times more dynamism in the past and can see this also in the future. The EGLD / BTC pair can continue to see upward momentum in price in the future. Elrond price is seeing weak bullish momentum but may gain strength soon. One should wait for further price correction before investing in the asset.
Essential support: $ 40
Main Resistance: $ 120
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