EGLDUSDT, Elrond, back in bullish mode ?
Hello,
I've been looking at Elrond (EGLD) for quite some time now and I think it's one of the most undervalued altcoins right now. Given the good impulse we are seeing in ETH, especially versus the BTC, it is quite possible we see an altseason revival this April.
The EGLDUSDT pair moved above all major EMAs on both the daily and 4-hour timeframes. What I'm currently looking for is a break above the $146-$149 zone and confirmation there (4-hour closure) to open long positions. The mentioned zone is a weekly resistance area combined with 61.80 drawn from the most recent pullback. It is quite possible that sellers will look at a potential diagonal resistance coming down from the March, 2021 peak (blue-dotted line).
First target for open longs - $147 or right in the middle of the weekly resistance, but still - above the last daily candle close. Second: $149.
First Sell Target: March high at $165
Regards
I've been looking at Elrond (EGLD) for quite some time now and I think it's one of the most undervalued altcoins right now. Given the good impulse we are seeing in ETH, especially versus the BTC, it is quite possible we see an altseason revival this April.
The EGLDUSDT pair moved above all major EMAs on both the daily and 4-hour timeframes. What I'm currently looking for is a break above the $146-$149 zone and confirmation there (4-hour closure) to open long positions. The mentioned zone is a weekly resistance area combined with 61.80 drawn from the most recent pullback. It is quite possible that sellers will look at a potential diagonal resistance coming down from the March, 2021 peak (blue-dotted line).
First target for open longs - $147 or right in the middle of the weekly resistance, but still - above the last daily candle close. Second: $149.
First Sell Target: March high at $165
Regards
Comment:
Target hit. Seeling a good portion of the position. 50% gain with 5x leverage