Lots of coins show the same picture today. All returning back from a long downtrend bouncing from some old and strong resistance. Same here with EDG. It found support from back to December and February and now trying to tear off the leash. Check out daily chart.
I am not buying yet as waiting for verification of support level at 8500 (or maybe at 8000). Once bounce price may rise to 11200 and than even to 12400. We'll see. A lot will depend on BTC. If positive lots of alts soon will show some good moves. Be carefull and never buy before the move is confirmed. EDG may easily fall down by 26% if it fails to form an uptrend now. SL at 8300 (or 7650 if bought at 8000)
N.B. Its not a financial advice. I'm sharing my thoughts for myself as it makes easier to learn by my own mistakes and headshots.