EGLD has been trading inside this bullish channel for over a year now. Recently, EGLD has seen a lot more bullish price action coming it's way because it was rejecting a huge support area around $130.
Assuming that this is the bottom, EGLD could move all the way back to the top of the channel. Be aware that this is a long-term trade and might take multiple months to play out. Furthermore, the current market's outlook is not good. Wait for a definite change in trend before entering long-term bullish trades.