Last week’s trading in the EGLD market was quite volatile. Buyers tried to take control of an important range of $225. For a while, the ELGD price broke this range and stopped at $270. However, this buyers advantage could not be maintained. In the end, the weekly candle closed below the $225 range. A large pin, which occupies most of the weekly candle, indicates the aggressiveness of sellers. https://www.tradingview.com/x/LDp2GjCx/ In addition, last week’s trading showed that a second test of the $225 range is likely to activate sellers for another fall wave with a target of $150. This mark is a critical point of the EGLD growth scenario. The fact is that on the weekly timeframe you can see a clear growth channel, in which the EGLD price moves from April 2021. After setting a new high in November, buyers with a weekly pin tested the top trend line of this channel. Then in January the test of the lower trend line of the channel took place. Given the situation in the cryptocurrency market, the probability of local correction to the mark of $150 is high enough. However, it is safest to buy EGDL with the first serious target of $400. Technical Analysis Of EGLD On The Daily Timeframe https://www.tradingview.com/x/sPlPXTdO/ Analyzing the movement of EGLD prices on a daily timeframe, we can see a new local growth trend, which is not going to stop yet. On 11 February, we see buyers attack the mark of $225 at increased volumes. Above t...
