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ThecoinrepublicCryptocurrencyEGLD Price Prediction: Will EGLD Crypto Break...
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EGLD Price Prediction: Will EGLD Crypto Break Out From Here?

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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: Will EGLD Crypto Break Out From Here?
Source: EGLD/USD by TradingView

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 contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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