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- 1 EGLD price prediction showcases the crypto’s rising momentum inside an ascending pattern.
- 2 EGLD crypto has surged above 20 and 50-EMAs to reach the 100 and 200-days DMA.
- 3 The pair of EGLD/BTC was at 0.001167 BTC with an intraday gain of 1.83%.
EGLD price prediction suggests MultiversX cryptocurrency is trying to sustain at the neckline of the ascending triangle pattern. Meanwhile, EGLD crypto must attract buyers in order to sustain at the verge of ascending triangle pattern over the daily time frame chart. However, sellers may approach short EGLD crypto and pull EGLD from the neckline. MultiversX crypto prices need to maintain the current uptrend of the cryptocurrency.
EGLD price was at $35.5360 and has gained 0.87% of its market capitalization during the day’s trading session. Trading volume has increased by 14.22% intraday trading. This demonstrates that buyers are trying to accumulate in order to surge towards the upper price range. Volume to market cap ratio was at 0.0143.
Will EGLD Price Sustain or Get Detained?
EGLD price prediction indicates the upward momentum of EGLD crypto inside an ascending triangle pattern over the daily chart. However, trading volume is still below average and needs to grow for EGLD to recover out of the pattern. Meanwhile, EGLD crypto has surged above 20 and 50-EMAs to reach the 100 and 200-day DMAs.
EGLD price has gained around 18.49% in a month and 8.38% year to date. This suggests that EGLD crypto is likely to show maximum recovery in 2023.
Technical indicators suggest the uptrend momentum of EGLD crypto price. Relative strength index showcases the upside trend of EGLD price. RSI was at 57 and is heading towards the overbought territory.
MACD exhibits the upward momentum of EGLD cryptocurrency. The MACD line is above the signal line after a positive crossover. Investors in MultiversX crypto need to wait until EGLD crypto price sustains at the neckline.
Summary
Per the EGLD price prediction, (MultiversX) cryptocurrency has been attempting to hold at the pattern’s neckline. Trading volume must increase for EGLD to break out of the pattern, though it is currently below normal. Technical indications point to the price of EGLD cryptocurrency continuing its ascent. Investors in MultiversX cryptocurrency must hold off till the price of EGLD cryptocurrency holds at the neckline.
Technical Levels
Support Levels: $34.50 and $33.50
Resistance Levels: $36.50 and $38.45
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
