MultiversX Price Analysis & Prediction (April 27th) – EGLD Attempts to Break This Channel Prove Abortive, Rejects at $50

2023-4-28 08:41

The price of EGLD increased by 13% amid the latest market recovery. Following this gain, it’s spotted as the top gainer of the market on a daily and weekly scale. It encountered resistance and failed to surpass the $50 mark.

Just after the crypto market recovered a bit yesterday, EGLD bounced off $37, started to increase, and closed far well above the $40 level.

It reiterated actions today and surged by almost 25% to tap $49.9 as the current daily high. The price later quickly retraced and dropped to a trading price of $45.5, trying to retest the $44.68 level that price flipped in the early hour of the day.

In the same vein, this rejection comes after testing at the upper boundary of the channel, acting as resistance since last year August. This makes the descending channel valid, indicating the trend is still bearish on the daily chart. 

But the interesting thing here is that March’s low is held as support since the previous fall – showing that the bulls are seriously buying at that level. Their latest reactions on the daily volume indicator suggest that volatility is increasing.

Yesterday and today’s candle formation also reflect a big volume inflow. It could move out of the channel if the price continues to surge, especially if the flipped level serves as solid support. While March’s low serves as short-term support, a crack below it will cause more dips.

EGLD’s Key Level To Watch Source: Tradingview

Right now, the vital resistance level to pay attention to is the current daily high. Overcoming it will pave the way for an increase toward the $54.19 and $58.40 resistance levels in the future.

If the price retraces below today’s flipped level of $44.68, there’s still hope for recovery at the $40 support level. The current monthly support is marked at $37.

Key Resistance Levels: $49.9, $54.19, $58.40

Key Support Levels: $44.68, $40, $36

Spot Price: $45.5 Trend: Bullish Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: actiongp/123RF // Image Effects by Colorcinch

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market price egld surpass mark gain failed

Источник: nulltx.com

market price → Результатов: 126


Waiting For The Bitcoin Bull Market? Arthur Hayes Claims It Started In March

Consistent with the volatile nature of the cryptocurrency market, the Bitcoin (BTC) price has been experiencing a string of fluctuations in the past few weeks. Despite the renewed optimism, thanks to Grayscale’s recent victory against the United States Securities and Exchange Commission (SEC), the price of the premier cryptocurrency has failed to stay above the […]

2023-9-6 21:00


Фото:

This Indicator Has Flashed Possibility For A Crypto Bull Market Re-Ignition – Again

The bitcoin market is yet to officially enter a bear market as many may have already believed, given the last week’s price twist. According to yesterday’s on-chain analysis by Glassnode, last week’s price correction is actually the least severe of all corrections this year at only 20% lower than the all-time-high price.    The market […]

2021-12-2 22:08


Are these market participants making Cardano, Chainlink, Litecoin susceptible to BTC's price corrections?

It's a common occurrence - the altcoin market mirroring Bitcoin's price action and the past day has been witness to the same just like countless times in the past. While there have been instances whenThe post Are these market participants making Cardano, Chainlink, Litecoin susceptible to BTC's price corrections? appeared first on AMBCrypto.

2021-4-24 20:34


Фото:

Will Ethereum’s “New Market Cycle” be Enough to Stop it From Plunging Lower?

Ethereum has seen a distinct divergence between its fundamental utility and its price action Despite seeing unprecedented usage rates, the cryptocurrency’s price action has been closely correlated to that of Bitcoin and the aggregated crypto market One prominent investor is now noting that ETH appears to be entering a new market cycle This comes as the explosively popular DeFi trend continues gaining major traction From a technical perspective, some analysts do believe that it may […]

2020-6-22 22:00


Tezos [XTZ] price pumps by 10% in sluggish market as real-estate tokenization sways market

As the collective was ensconced in the Bitfinex-Tether drama that led to waves of fluctuations in the price of Bitcoin and the collective market, one coin was unfettered, slowing edging upwards. Tezos [XTZ] has seen a massive bump in its price owing to a significant announcement of the integration of its blockchain for a digital […] The post Tezos [XTZ] price pumps by 10% in sluggish market as real-estate tokenization sways market appeared first on AMBCrypto.

2019-4-27 09:20


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Eclipse Labs appoints new CEO after investors ‘urge’ founder to resign

Eclipse Labs replaced Neel Somani with Vijay Chetty as the firm's new CEO Investors, led by Hack VC, could have played a role in the change in management  Eclipse Labs has replaced its founThe post Eclipse Labs appoints new CEO after investors ‘urge’ founder to resign appeared first on AMBCrypto.

Is Arbitrum's latest record good news for ARB's price? Metrics say...

Arbitrum active addresses registered figures of 900,000 for consecutive days ARB's market trend has continued to fall though Arbitrum is in the news today after it seemed to solidify its posThe post Is Arbitrum's latest record good news for ARB's price? Metrics say... appeared first on AMBCrypto.

XRP whales add $55 million, but the price falls again - What's happening?

XRP whales have increased their accumulation of the token over the last 14 days However, this failed to affect the altcoin's price positively XRP's price has maintained a downtrend on the chThe post XRP whales add $55 million, but the price falls again - What's happening? appeared first on AMBCrypto.

Countdown to Notcoin's Binance listing - Will NOT and TON profit from it?

78% of NOT’s total supply will be allocated to miners  TON turned bearish as its price dropped by more than 3.5% The wait for the much-hyped Notcoin [NOT] launch is about to end soon. As The post Countdown to Notcoin's Binance listing - Will NOT and TON profit from it? appeared first on AMBCrypto.