EGLD Technical Analysis: Is A Good Time To Buy

Trading month in the EGLD market was held under sellers’ flag and an attempt to take control of the $150 mark. Finally, buyers have shown interest in this cryptocurrency and significantly slowed down the price fall. If you look at how easily the weekly candle from 17 January tested the range of $150, now the situation has changed drastically. Sellers needed three times as much time and volumes to perform the same operation as during the week of 17 January. In addition, the body of each subsequent weekly candle, starting from 14 February, was getting smaller. As a result, sellers failed to update the local low from 17 January and the EGLD price remained in the global growth channel. The trading week on 7 March closed above the opening price. The trading week of 14 March began with an increase in EGLD price. https://www.tradingview.com/x/7d0KBJ8o/ So far, all the facts show the legitimacy of our main scenario, which we wrote about a month ago. With the $150 mark, buyers have made their way to the $400 global target. The first obstacle to the fair growth of EGLD prices is the $225 range. A false break of this range during the trading week of 7 February caused a new portion of local negatives in the form of a lower EGLD price. Therefore, while the $225 range is under the control of buyers, we allow continued consolidation between the $150-$225 mark. However, such a stop does not contradict our main scenario – the EGLD price growth...