EGLD Technical Analysis: Is A Good Time To Buy
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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.
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 to $400.
Technical Analysis Of EGLD On The Daily Timeframe
Analyzing the movement of the EGLD price on the daily timeframe, we can see that the price of 24 February is in a narrow consolidation. The maximum period for the price to be at rest is 20 March. In the event of a breakdown of the local red trend line and the $167 test, there is a possibility of another local correction of the EGLD price. In this case, it will be the safest point on the chart, when you can risk buying EGLD in the medium term. The critical point of the positive growth scenario is $120. If sellers are able to break this mark and stay below it - it is better not to keep EGLD investment. In this case, the price can make another momentum down by 30%-40%. In this case, the global growth trend will be broken and the probability of continued growth will change dramatically in favor of buyers.
EGLDBTC Price - The Market Is Asleep And Waiting For The Right Moment
On the weekly chart of EGLDBTC price, we do not see the activation of buyers. The price stopped near the important liquidity zone 0.0035. The trading volumes and interest are not visible. The main target is a local growth wave with a target of 0.006 remains in effect. During the trading week on 14 March, we expect the EGLD price to grow by about 20%. If buyers do not show themselves during the week and the price remains the same - this will be a direct signal to the probable breakdown of the mark 0.0035 and the continued fall of the EGLDBTC price. But, given all the factors, the scenario of continued fall for us is still an alternative.