EGLD is currently trading at $41, which is 93% down from its all-time high. Despite many influencers claiming that it would reach $1000, investors suffered significant losses due to their funds being liquidated.
In my opinion, EGLD is likely to experience further downward trends, and it may test the $27 level, resulting in a 34% drop from its current value. I remain bullish on EGLD only if it surpasses the $52 level.
In bear markets, smart traders buy the dip and sell in bull markets. At present, both the RSI and MACD indicators are bearish.
The critical levels to watch for are $27 for support and $52 for resistance.
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