EGLD need no introduction as its project promises unique features as well as its price skyrocketed due to increasing popularity. EGLD's corrective wave didn't dropped much, currently price resting at 0.382 Fibonacci level and been oscillating at this level for a while. Have to wait and see if price can break upward and start a new impulse wave or going down further and deepen the correction. Let's see what happens.
Comment:
EGLD broke the downtrend line.
EGLD broke the downtrend line.
Comment:
So, EGLD went up and is now oscillating in a flag/triangle pattern. Let's see when EGLD breaks this correction pattern.
So, EGLD went up and is now oscillating in a flag/triangle pattern. Let's see when EGLD breaks this correction pattern.
EGLD is still oscillating around the 0.382 Fibonacci level, but this time a triangle pattern is visible. If price breaks this pattern downward, there are two resistance areas where price could reverse the direction depicted on the chart.