EGLD – Third Touch at $12 Support Could Ignite a Major ReversalEGLD has been on my radar for quite some time...
After forming a major low in April and rallying back toward the $22 zone, the coin pulled back again — effectively confirming that level as strong support.
By the end of September, price revisited the $12 area for the third time, and once again buyers stepped in decisively, triggering a solid rebound. Now, EGLD trades around $14, sitting just below a falling trendline that has capped upside momentum for months.
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Technical Outlook
• Support: $12 (triple-tested, major demand zone)
• Resistance: Falling trendline around $14–15
• Soft target: $22 (key resistance and prior reversal area)
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My Trading View
Given the strength of this repeated support and the contracting structure, I believe this trendline resistance is likely to break soon. If momentum follows through, EGLD could accelerate sharply to the upside, mirroring past explosive moves.
The setup remains constructive — buying dips above $12 could offer a strong risk–reward opportunity heading into the next leg higher.
