EGLD - WEEKLY , BOTTOM HERE?
This chart is on log chart view so, bassically, now we are still in an upptrend , and the bullmarket for it will came after the 79$ break.
Hi everyone!
The CRYPTOCAP:EGLD price has breached the 61.8% Fibonacci level. It has just reached the entry point of the M neckline (green zone), which serves as a support area. In my opinion, at some point, CRYPTOCAP:EGLD is likely to attempt reaching the minimal retracement target of a wave 2, which corresponds to the 0.382 Fibonacci level at $48.35....
My opinion is EGLD has already started it's bull market and currently in the minor 2nd wave of the major 5th. I hope it will first retrace to 50$-55$ area before the continuation of the 3rd wave. It can easily reach 250$-500$ area in the coming bull market. Let's see. DYOR. Always invest what you can efford
as you see my chart looking clearly i based my analysis on logical reasons as we know 21 avril 2024 we will face important event is bitcoin halving second reason in the chart we see bullish pattern like something want to push the candles up and the third reason we see techincaly compressed triangle on the daily frame and we know if the patterd breadks the...
BITFINEX:EGLDUSD Once a dominant and hopeful alt with an over inflated value tumbled to the abyss it seems EGLD fell so far in the hole it might have been overlooked and forgotten.
Without getting into use case which I always feel is what is any altcoins staying potential, outside of being a memecoin, ELGD once seemed like it had a positive roadmap and as...
I went down to the crossroads
Fell down on my knees
I went down to the crossroads
Fell down on my knees
Asked the Lord above for mercy, woo-ooh
Save me, if you please
I went down to the crossroads
Tried to flag a ride
Went down to the crossroads
Tried to flag a ride
Nobody seemed to know me, woo-ooh
Everybody passed me by....
* Beniamin Mincu is doing a...
I already added the comment to my other idea (linked below). A more conservative target would be 140-170$ if we are believers of the 1.618. This is when we don´t consider big wicks, we also look at the volume profile resistance levels and we look at the historical 0.618 retracement from previous all-time-high.
This could be a possible channel to go there, also...
The log chart for EGLD
I expect an inverted H&S to form and then a strong reversal allowing the bulls to take control.
This control is shown with the green bars pattern.
The white dotted lines are just some areas of interest.
The bars pattern tool is great.
Bias: Bullish
Description: EGLD is poised above a key ascending trendline on the daily chart, indicating a bullish stance. The sustained price above the SMA and recent breakout suggest potential for continued upside.
Direction: Upward (Long)
Entry: A strategic entry would be on a confirmed bounce from the current level or on a breakout above the recent high of...
Bitcoin did have a huge dump around March 23rd 2023 before the bull run it is experiencing. If we would thing that EGLD is doing something very similar, I would not be surprised of having some time of dump as last point of support for the big actors to fill their bag one last time and only then go up.
That also would coincide with the retracement that BTC is...
To complement my previous idea, we can see the possible parabolic curve that EGLD would be forming.
Again, be ready for surprises, the last point of supply (LPS) can happen violently, I would not leverage.
EGLD could very well be doing a parabolic curve in the 4h range. This is another way of seeing it, within an ascending channel, with the corresponding FIB extensions drawed from the lows of October.
This could be a FOMO, or could be not. We could also have some bumps in the way, but Santa is around the corner, I can feel it!
Target: 119$ (+90%)
EGLD need no introduction as its project promises unique features as well as its price skyrocketed due to increasing popularity. EGLD's corrective wave didn't dropped much, currently price resting at 0.382 Fibonacci level and been oscillating at this level for a while. Have to wait and see if price can break upward and start a new impulse wave or going down...
I am sharing here this idea where the usual steps of Wyckoff redistribution hare happening, after the highs of the top before starting the consecutive declines.
Lately, some news and hype happened around this coin in the crypto market social media I do not get why ppl tend to jump in this kinda PA only price tags to be interested in this coin are around 12 and 3 $ area we will be buying this there.
I don't believe EGLD is going to go higher. Not just yet. I drawed the two options, one slightly better than the other, for the next 6 months. Right now, it is clearly rejected from previous S/R levels and from the 9 weekly moving average.
