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EGLDUSDT Perpetual Contract

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📈EGLD Analysis: The Impact of Ethereum ETF on the Market💥🔍Let's dive into today's analysis. Yesterday, the Ethereum ETF news was confirmed, but since it was already priced in, the market didn't rally. Instead, those who had bought in anticipation of an Ethereum pump started selling. ⚡️ Market Momentum Currently, there is a bearish momentum in the low wave cycle (LWC), which could extend to higher wave cycles (HWC). ⛓ Coin of the Day: EGLD Today's coin is EGLD, and the project behind it is MultiversX, a high-speed, low-fee blockchain utilizing Proof of Stake (POS). To ensure network security, you need to stake EGLD, earning annual rewards based on the transactions you validate. 📆 Chart Analysis Looking at the chart, EGLD has been in a downtrend. However, for several weeks, it has been ranging between 37.42 and 45.31. The chart shows stronger bearish momentum as the price has repeatedly failed to reach the range's upper boundary. 📊 Volume Analysis The volume supports the bearish candles, with sell volumes significantly higher than buy volumes. For opening a long position, I would wait for a reversal in volume trends, indicating that buying volume is entering the market. 📉 Short Position The nearest trigger for a short position, which we are currently reacting to, is 37.42. A break and close below this level would be a suitable trigger for shorting. ✅ Short Target The short target can be set at 31.06. However, a crucial support zone at 36.09, which once caused a false breakdown and a subsequent upward move, might cause a reversal back into the range. This zone is marked in black due to its unreliable nature. 📈 Long Position For a long position, there are three triggers to consider based on your strategy: 1️⃣ 38.76 Trigger : Not for the 4-hour timeframe. For this trigger, switch to lower timeframes like 15 minutes for a scalping position. 2️⃣ 42.62 Trigger : This logical trigger can push the price to the range's upper boundary with a suitable stop-loss in a lower timeframe, offering a good risk-to-reward ratio. 3️⃣ 45.31 Trigger : This is the primary long trigger, marking the range's upper boundary. A confirmed breakout above this level can target 52.25. 🪄 My Strategy Personally, for a short position, I aim to enter at the break of 37.42. For taking profits, I will monitor the market momentum and close the position once the bearish momentum ends. For a long position, I will not open a trade until significant buying volume enters the market. If appropriate volume is observed, I will use the 42.62 and 45.31 triggers to enter long positions. I avoid the 38.76 trigger, as it aligns with a reactive trading strategy that doesn't fit my approach. 📝 Conclusion In conclusion, the recent news about the Ethereum ETF has not provided the anticipated boost to the market, highlighting the importance of technical analysis in making informed trading decisions. For EGLD, the current market conditions suggest caution, especially with the prevailing bearish momentum and volume trends. Traders should closely monitor key levels and volume changes to identify optimal entry and exit points. As always, maintaining a disciplined approach and adhering to your trading strategy will be crucial in navigating the market's movements. If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next. 🧠💼 It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2. 🫶If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
3
Long signal for EGLD/USDTThis technical analysis is based on the daily chart of BINANCE:EGLDUSDT on the Binance exchange. In this analysis, a price channel is drawn, and support and resistance levels are evaluated. Price Channel Analysis: The price is currently within a price channel ranging from 35.08 to 51.38 USDT. The suggested entry point is around 38.38 USDT. Entry and Exit Points: Entry: 38.38 USDT Take Profit: 51.38 USDT Stop Loss: 35.08 USDT Conclusion: This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 3.72, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
Long
by QuantCT
EGLD/USDT In the crucial area, it shows bounce from the support💎 The recent market dynamics surrounding #EGLD have indeed been quite notable. 💎 Currently resting on the support area, EGLD has historically demonstrated a tendency to bounce strongly when reaching this level, often leading to significant upward movements. 💎 There's potential for EGLD to repeat this pattern, and if it manages to break above the resistance, there's further potential for the price to continue its upward trajectory and reach the strong resistance area. 💎 However, if EGLD fails to hold above the support area, there's a possibility it may break below, indicating weakness and potentially leading to a decline to the next lower support area around $28.3. 💎 When EGLD reaches the key support, it must bounce back, as this demand zone holds significant importance. Reclaiming the price above the support area is essential for any further attempts to reach the strong resistance. 💎 If EGLD fails to do so and breaks below the demand zone, it could signal a bearish momentum, resulting in a significant downward movement. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan
📈 Breaking Down EGLD's Bullish Ascending TriangleEGLD appears to be painting a promising picture for traders, showcasing a bullish ascending triangle pattern. But what exactly does that mean? In the world of stock market analysis, an ascending triangle pattern typically signals a bullish continuation pattern. Here's the lowdown: An ascending triangle forms when there's a clear upward trend in the price of a stock, accompanied by relatively equal highs followed by higher lows. This creates a triangle-like shape with a horizontal resistance line and an upward-sloping support line. The price tends to consolidate within this pattern before eventually breaking out to the upside. Now, back to EGLD. Observing its recent price action, we can see distinctively higher lows forming along with a consistent resistance level. This tightening range suggests that buyers are gradually gaining strength, setting the stage for a potential bullish breakout. Remember, while patterns like the ascending triangle can offer valuable insights into potential price movements, it's crucial to confirm the breakout with strong volume and follow market dynamics closely. Keep an eye on EGLD as it navigates this pattern, and may your trading endeavors be prosperous! 🚀 #EGLD #AscendingTriangle #BullishTrend #MultiversX #altcoins This is not financial advice this is only my opinion.
Long
by Gorilla_Assassin
2
EGLD - UPDATE - WAVE 2 OR 4 Obviously price reversed halfway on us and now it is about to hit the stop loss but the remember the setup below on previous analysis. Now that we didn't reach target for that long this clearly gives a sign that we are in some kind of wave C-orange of wave 2 or 4-yellow and to avoid unnecessary loss the stop loss will be removed and DCAed within the orange box since BINANCE:EGLDUSDT is bullish mid to long term. Depending on you risk tolerance, we you believe this to be wave 4-yellow rather than wave 2 then your invalidation level (red dotted line) is around $28.7 area. PREVIOUS ANALYSIS OTHER ANALYSIS
by DewyCandles
EGLD/USDT - MultiversX: TD Sequential◳◱ On the $EGLD/ CRYPTOCAP:USDT chart, the Td Sequential pattern suggests a pause in volatility, potentially gearing up for a breakout. Traders might observe resistance around 59.32 | 64.45 | 73.55 and support near 50.22 | 46.25 | 37.15. Entering trades at 54.52 could be strategic, aiming for the next resistance level. ◰◲ General info : ▣ Name: MultiversX ▣ Rank: 85 ▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Elrond is a blockchain designed for high throughput and relatively fast execution speed compared to other smart contract platforms. It features Adaptive State Sharding as its scaling solution and a Proof-of-Stake (PoS) variation called Secure PoS to secure the network. Elrond also contains a WebAssembly-based virtual machine that can support the creation and execution of decentralized applications (dApps). ◰◲ Technical Metrics : ▣ Mrkt Price: 54.52 ₮ ▣ 24HVol: 5,768,981.334 ₮ ▣ 24H Chng: 0.055% ▣ 7-Days Chng: -5.44% ▣ 1-Month Chng: -20.46% ▣ 3-Months Chng: 2.87% ◲◰ Pivot Points - Levels : ◥ Resistance: 59.32 | 64.45 | 73.55 ◢ Support: 50.22 | 46.25 | 37.15 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: NEUTRAL ◰◲ Technical Indicators Summary : NEUTRAL ◲◰ Sharpe Ratios : ▣ Last 30D: -2.74 ▣ Last 90D: 0.47 ▣ Last 1-Y: 0.55 ▣ Last 3-Y: 0.05 ◲◰ Volatility : ▣ Last 30D: 0.83 ▣ Last 90D: 0.77 ▣ Last 1-Y: 0.80 ▣ Last 3-Y: 1.00 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.54 - Bullish ▣ Reddit sentiment score is 0.90 - V. Bullish ▣ In-depth EGLDUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
EGLD /USDT Ascending Trendline and Support Level? 👀🚀EGLD💎 Paradisers #EGLD is currently aligning itself along an ascending trendline. This trendline intersects with a critical support level at $46.76.The confluence of these factors raises the probability of bullish horizons. If #EGLD can maintain momentum at this level, we might witness a delightful upward surge. 💎 Our keen-eyed observations reveal that #EGLD has recently formed a double-top pattern, followed by a subsequent downward trend.However, there’s hope on the horizon. The price is now approaching the strong support level of $46.76, which coincides with the ascending trendline.The fact that the price has already respected this level twice, coupled with sustained upward momentum, suggests a potential bullish movement. 💎 As savvy traders, we’re always prepared for different scenarios. If #EGLD doesn’t rally as expected and this bullish setup falters, let’s keep our eyes on another critical level.Our Point of Interest (POI) shifts to the lower demand zone at $0.3467. A bullish rebound from this point could be in the cards. 💎 However, a word of caution: breaking below this point might signal a significant downward trend. Stay vigilant, adapt your strategies, and may the crypto winds be ever in your favor!
Long
by MyCryptoParadise
Elrond Support at $50, Potential Bounce or Deeper Pullback LoomsElrond currently hovering around a crucial support zone between $52 and $50 on the daily timeframe chart. I am closely watching this price action to gauge the token's next move. Potential Bounce Back in Sight If EGLDUSDT manages to hold above $50 , a bounce back towards $61 , which acts as a resistance zone, is a possibility. This bullish scenario would be welcomed by investors who have been accumulating EGLD in recent weeks. Support Breach Could Lead to Deeper Pullback However, if the support at $50 fails to hold , EGLD could experience a deeper pullback towards $48 or even lower, to $47 . This bearish outcome would likely trigger selling pressure from short-term traders. Eyes on Key Levels In the coming days, market participants will be keenly observing whether EGLD can establish support above $50 . A decisive break above this level could signal a bullish reversal, while a breakdown could lead to further losses.
by Z4F4R
EGLD/USDT upward momentum what next?👀 🚀 EGLD Analysis💎 Paradisers, brace yourselves for an exciting opportunity to profit with #EGLDUSDT! It's gearing up for a potential rise from a pivotal level. 💎 Diving into #EGLD journey, it has been tracing a cup and handle pattern. Currently, it's testing a tough supply zone. A breakthrough above this zone, coupled with sustained momentum, could signal a robust bullish sprint towards the $77.59 supply zone. 💎 Should CRYPTOCAP:EGLD begin to falter, our eyes are on a vigorous recovery from the solid support and gap at $55.90. With substantial liquidity at this level, a rebound seems promising, setting a critical watchpoint. However, slipping below this crucial level could spell a shift towards bearish terrain.
Long
by MyCryptoParadise
HOW-TO: Accumulation Strategy 2024What if instead of buying a stock, crypto, currency only once and holding until we are in profit, we split our strategy capital and buy several times, until the total is in profit ? Yes, that is DCA you’d say. Ok, but what if instead of buying at predetermined intervals, we bought at oversold RSI, or on a double bottom, for example ? That’s the idea behind the Accumulation Strategy, which I’m going to explain in detail in this article. █  Simple Example The strategy comes with several features, and the easiest way to explain them is through examples. The Max Active Deals input allows to limit how many times the strategy can trigger a buy in a trade, just like the pyramiding setting. It can go up to 100. In this example, the strategy has 10 max active deals. and is using the RSI feature to buy when RSI crosses below a configurable threshold, here 25. Note: to get stronger signals, the RSI time frame has been set to 1 hour, since the chart is in a 30 min time frame. In this trade, the strategy bought 8 times (yellow arrows) before selling at take profit, but it could have bought twice more. █  Take Profit Feature Customisable in the input tab, this feature allows you to set one or multiple take profit(s). You can set the value in either %, pips, or Auto mode. To create multiple targets, increase the Number of take profit and set the Step between each TP. In our previous example, instead of just one, I set 3 TPs with 1% value and a step of 1. The strategy will sell progressively at a quantity split even at each take profit, until the last TP is hit. Note: Using multiple take profit is often used to improve risk management in trading. █  Built-in Entry Options The strategy comes with several built-in indicators, such as the RSI that we’ve seen, but here’s the list: MTF RSI cross, RSI divergences MTF Stochastic cross MTF Bollinger Bands cross Top & Bottoms Double Top & bottoms Higher/Lower Lows/Highs Custom External Entries If you want to use ANY external indicator from the TradingView library and use it as an entry signal, you can! For example, let’s use the Squeeze Momentum Indicator by Lazybear. After adding it to the chart, we select the first plot which is the histogram. Then we select the condition “crossover” and “0”. It will create a buy when the histogram turns green. █  Trend Filters In trading, we try to avoid going against the global trend. The strategy comes with several built-in trendlines, MTF, or you can use ANY external trendline from the TV library. The strategy offers other built-in filters such as volume, overbought in range/trending market, or flat market entry filters. █  Stop Loss The stop loss can be turned on/off. You can set the value in either %, pips, ATR or Auto mode. Note: When to use a Stop Loss? Using a stop kind of defeats the purpose of the strategy, but it can be useful if you plan to trade highly volatile and risky coins (remember LUNA ?) That is why the option is there. █  How to use the strategy The indicator access is unlocked by subscribing on my website. See the links below this article. █  Setting up a strategy You can set up a strategy on your own chart in just one click using the preconfigured charts I will share below, or you can simply add the indicator yourself and play with the settings. Backtesting Backtesting is automatically done in the Strategy Tester Tab. Creating Alerts Once you have your strategy setup on the chart: 1 - Set the alert message in the indicator inputs (scroll to the bottom, you will find an “alert’ section) 2 - Save your chart and do not touch it anymore unless you want to update your alert (optional but recommended) 3 - Create an alert on Cyatophilum Accumulation Strategy, using the option “alert() function calls only” (this is really important!) Only one alert is needed to handle all the strategy events! (entry, take profit, stop loss, etc.) Even a free TradingView user can create a strategy! Automation The subscription that I offer also comes with Automation bots using the Binance spot trading API . Important: if you wish to automate your strategies, make sure your TradingView account has access to alert webhook notifications . That’s it for this tutorial! Pretty easy right? No, I know it can get complicated at first. 😣 That is why I make preconfigured charts. Once you have access, click on the chart link, then click “copy”, then “save” your “layout” to get your own chart that you can use and edit. Enjoy! █  Preconfigured charts BTC/USDT Chart: www.tradingview.com ETH/USDT Chart: www.tradingview.com BNB/USDT Chart: www.tradingview.com MATIC/USDT Chart: www.tradingview.com EGLD/USDT Chart: www.tradingview.com
Education
by cyatophilum