Today’s analysis - EGLDUSDT- trading above Structural S/R where holding this level is considered ,
Points to consider,
- Price action impulsive
- Structural S/R Support
- Swing High Objective
EGLDUSDT’s immediate price action is trading at a key trade location that has technical confluence with the .382 Fibonacci, this allows for a bias.
Swing High is the immediate objective, price action exceeding this level is indicative of trend continuation.
The is currently declining, this is indicative of an influx occurring, especially at key trade locations.
Overall, in my opinion, EGLDUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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