EGOLD Consolidates at Critical Swing Low Around $11.47EGOLD is consolidating at support, with traders closely monitoring the $11.47 level. A sweep here could fuel bullish expansion toward $20, while a breakdown risks further correction.
Introduction: EGOLD’s prolonged consolidation has placed the spotlight on its key swing low at $11.47. How price reacts around this level will determine whether a bullish reversal unfolds or a deeper correction takes hold.
Key Technical Points:
- $11.47 is the critical swing low level.
- A liquidity sweep opens potential for bullish expansion.
- Breakdown below $11.47 could trigger a deeper correction.
Price action has been consolidating, with multiple retests reinforcing $11.47 as a major decision point. A wick through this swing low could act as a liquidity grab, fueling a bullish impulse toward $20.
On the other hand, a decisive close below this level would confirm bearish continuation. Market participants should be cautious, as consolidation near such a critical swing low often precedes high-volatility moves.
What to Expect in the Coming Price Action:
If EGOLD can hold above $11.47, a bullish push toward $20 is possible. However, failure here could deepen the correction significantly.
