Elrond Technical Analysis: ERD/USDT jumps up by 34% over the last two days

ERD/USDT has gone up from 0.006082 to 0.008155 over the last two days.
The RSI indicator is inside the overbought zone, which shows that ERD/USDT is currently overvalued.

Rajarshi Mitra Independent Analyst

ERD/USDT daily chart

ERD/USDT bulls have taken full charge of the market as the price has risen from 0.006082 to 0.008155 over the last two days. That’s a staggering 34% rise in overall valuation. ERD/USD is extremely close to its all-time high level of $0.00888163.

The price currently has healthy support at 0.006405, 0.0006082 and 0.005662. The RSI indicator is trending inside the overbought zone, which shows that the price is currently overvalued. As such, a short-term bearish correction could be expected.

It looks like the bulls are in an accumulation phase before its July 30th mainnet launch.

Last week in $ERD

1/
“Zero to One” Mainnet on 30 July
✅ Genesis Staking 2.0
Samsung-exclusive @battleofelrond update
Listed on @binance backed @WazirXIndia
2 releases, 9 features, 8 bug fixes
AMA with @beniaminmincu & @luciantodea pic.twitter.com/I3Y2wRVnsP
— elrond (@ElrondNetwork) July 6, 2020

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe recover, echoing Bitcoin rebound

Dogecoin, Shiba Inu, and Pepe are trading mixed as Bitcoin records minor gains on Monday, warming sentiment across the broader cryptocurrency market. Still, the incipient recovery in Dogecoin, Shiba Inu, and Pepe remains fragile amid the prevailing downtrend.