Currently EGLD is holding on the 50% retracement of the last swing up. This 50% area is also around the previous ATHs if you scroll to the left. Considering we are in a bull run, and with BTC having quite a drawdown, it is only expected that the ALTs also appreciate when BTC recovers, which may be soon, looking at the price action of EGLD.
I will be looking to enter after price rejects the TL and breaks above the triangle. This may change depending on what price does and the momentum.
If price happens to fall below and touch the 61% line then I'll take my eyes off of EGLD for the time being. 61% can also be used as a stop loss area.
Let me hear your thoughts.
I will be looking to enter after price rejects the TL and breaks above the triangle. This may change depending on what price does and the momentum.
If price happens to fall below and touch the 61% line then I'll take my eyes off of EGLD for the time being. 61% can also be used as a stop loss area.
Let me hear your thoughts.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).