Elrond Price Forecast: EGLD bounded between two key levels, awaits major move

  • Elrond price is contained inside a significant symmetrical triangle pattern.
  • The digital asset faces several critical resistance points on way up.
  • EGLD is on the verge of 45% move within next few days.

The Elrond price has been trading inside a tightening range for several weeks now and seems to be on the verge of a potential 45% breakout or breakdown. The digital asset faces steep resistance ahead but also has robust support.

Elrond price on brink of massive move

On the 12-hour chart, the Elrond price has established a symmetrical triangle pattern forming the top trend line at about $148. The lower support level is $125. 

egld price

EGLD/USD 12-hour chart

The digital asset faces a lot of resistance ahead as the 50 and 100 SMAs both coincide at $140. Bulls must pass above these two levels and then break $148 for a massive move toward $212.

egld price

EGLD/USD 12-hour chart

On the other hand, a rejection from $140 would lead EGLD down to $124. A breakdown below this key level will drive the Elrond price toward $67.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

BTC may drop to $34,000, taking the rest of the market with it

Bitcoin price defining a bearish top formation after weeks of indecision. Ethereum price blitzes bears with steady price momentum. Ripple price fails pattern test, poised for further losses.

More Crypto News

Ethereum Classic gains threatened as market goes into tailspin

Ethereum Classic price crashed nearly 30% as the cryptocurrency market entered a selling spree. A combination of the 100 SMA at $75.45 and support barrier stretching from $72.31 to $81.67 provided a base for Wednesday’s crash.

More Ethereum Classic News

SHIB price plunges after Vitalik Buterin dumps dog-themed tokens

Vitalik Buterin received Shiba Inu tokens at his public wallet address as part of a burn mechanism. Shiba Inu price dropped by over 40% in the past 24 hours as the Ethereum co-founder cleaned out his crypto wallet.  

More Shiba Inu News

Uniswap price sharply reverses while Buterin proposes UNI as an oracle token

Uniswap price locked in an ascending channel since February. 50-day simple moving average (SMA) has contained weakness over the last three months. Ethereum creator, Vitalik Buterin, promotes Uniswap’s UNI as a highly secure oracle for a DeFi ecosystem.

More Uniswap News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast