Home
News
- 1 EGLD crypto price decreased by 2.56% over the past seven days.
- 2 EGLD crypto price is currently trading at $30.266447 with a drop of 0.66% in the last 24 hours with a current market cap of $781.563 Million.
- 3 EGLDUSD is under bearish pressure.
The EGLD Crypto price prediction suggests the token produced an interesting declining pattern. Crypto struggles to move above 20, 50, 100, and 200-day daily moving averages.
The EGLDUSD price prediction shows that the token is trying to break the upper trendline on the daily time frame chart. EGLD crypto needs to increase the positive momentum in order to break out from the descending pattern. However, sellers may approach 50-SMA which is acting as a resistance to the crypto price. However, the 24-hour trading volume (2.262) is lower than the 10-day average volume(6.465).
EGLDUSD price prediction implies that investor sentiments regarding the EGLD token are bearish. Investors may prefer to keep a keen watch over the crypto. Presently, the EGLDUSD price is below all the key EMA and MA levels.
The present value of EGLD is $30.333824 It has a market capitalization of around $783.299 Million with a fully diluted market cap of $952.965 Million. The crypto has a circulating supply of 25.823 Million.
EGLDUSD has performed poorly so far this year. Year over year returns are -53.14% while returns over the past 6 months are -31.04%. The return was -14.04% last month and -2.35% last week. Technicals signal selling pressure while the technical oscillators indicate neutrality. The moving averages are also on the strong sell side. This shows bearish dominance in the market.
Technical Analysis of EGLD Crypto Price in 1-D Timeframe
At the time of publishing, EGLD crypto (USD: EGLD) is trading below the 50 and 200-day simple moving averages, which shows bearish momentum.
However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the EGLD price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 32.71 points. The 14 SMA is below the median line at 35.02 points which indicates that the EGLD crypto is bearish.
The MACD line at -0.914846 and the signal line at -0.914846 are above the zero line. A bearish crossover is observed in the MACD which signals more bearishness for the EGLD crypto price.
Summary
EGLD (USD: EGLD) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the EGLD crypto price. EGLD price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: Nearest support levels are $28.636890 and $26.441790.
- Resistance levels: Nearest resistance levels are $38.837650 and $45.810321.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
