- Elrond price analysis is bullish today.
- EGLD continues discovering new heights.
- The coin has gained enormous value since 19th November.
The Elrond price analysis favors the bullish side without any doubts. The cryptocurrency continues discovering newer higher levels as the bullish momentum is very strong and aggressive, but the cryptocurrency is also in a highly overbought state now, and a correction seems unavoidable.
The Elrond started to rally higher on 19th November starting from $309 and continues upside till today as the price is now above the $500 psychological mark. Bullish momentum has not shown any signs of exhaustion yet, but the bulls may get tired soon.
EGLD/USD 1-day price chart: EGLD at ATH after ATH
The 1-day price chart for Elrond price analysis shows the cryptocurrency has rallied extremely high today as the bulls covered the upwards range today as well. The crypto pair is trading hands at $534.41 at the time of writing while trading in the range of $478 to $553 today. The EGLD/USD has gained a value of more than 16 percent over the last 24 hours and reports a whopping 73 percent gain over the past week, which is again beyond speculations. The trading volume has also increased by 26 percent and the market cap improved by 15.9 percent over the last day.
The volatility is increasing as the Bollinger bands expand with the upper band at $472 representing support for the coin, and the lower band has moved down to $219, the average of the Bollinger bands is at the $346 mark. The moving average (MA) is trading above the mean average of the volatility indicator at the $381 mark.
As said earlier, the EGLD/USD is overbought, the relative strength index (RSI) is present in the overbought zone at index 88, still maintaining its upwards slope, indicating intensive buying activity in the market. As the crypto pair is already overbought, the RSI can turn downwards any time, giving a sell call.
Elrond price analysis: Recent developments and further technical indications
The 4-hour Elrond price analysis shows cryptocurrency is covering a range upwards from the last 16 hours, so an hourly correction may soon take place as the bulls may need rest now before marching further high. The last correction took place around 16 hours before, and that was only for four hours. The very same pattern is obvious on the 4-hour chart since the EGLD has been rallying high.
The volatility on the 4-hour chart is also high, but here the upper Bollinger band represents technical resistance for EGLD at the $550, where selling pressure might kick in. On the contrary, the mean average of the indicator at the $431 mark represents the support zone for the EGLD/USD pair. The RSI is now trading on a straight line indicating a slow down in the buying activity authenticating our guess for correction to loom.
Elrond price analysis: Conclusion
The Elrond price analysis suggests that the cryptocurrency is aggressively bullish as it keeps breaking havoc on the bears by gaining extensive value on a daily basis and shows no signs of taking effects from the bearish market as it keeps going against the broader trend. If the bears step in, then the EGLD can find support near the $472 support zone. On the other hand, if the bullish momentum continues, then selling pressure may build around the $550 range, but it’s just a guess according to technical indications.
Elrond price might plunge to $280 as fear takes over investors
- Elrond price is in its fourth consecutive day of losses after hitting new highs at the beginning of the week.
- EGLD price has accelerated its downtrend as global market sentiment is acting as a headwind for cryptocurrency assets.
- Expect another 30% correction before bulls engage in buying the dip at around $280.
Elrond (EGLD) continues its downside move after tumbling from towering all-time highs at the beginning of the week. Bulls are struggling to build support to keep price action in check. Bears pushed Elrond price further to the downside with the move accelerated by bulls booking profits and releasing supply. EGLD price rolled over today as part of a global sell-off in the markets driven by Covid fears. Expect EGLD price to look for firm support, as multiple plateaus present themselves to the downside.
Elrond price further corrects, plenty support levels to slow down aggressive selling
Elrond price sees bulls in a rout after missing out on the chance to take profits after hitting new all-time highs at $560,00, at the start of the week. Now downside has accelerated and pierced the monthly R3 resistance at $420 and the 61.8% Fibonacci retracement level at $404.64.
EGLD bears will want to keep the momentum going to the downside, but it may ease at around $363 where they will face the R2 resistance level and the 50% Fibonacci level at $344. These two elements will already have slowed down the bearish move and triggered profit taking along the way.
EGLD/USD daily chart
As bears push EGLD price down to test the monthly R1 resistance level at $320, it will give bulls the chance to pick up some Elrond at a discount. . With the 55-day Simple Moving Average (SMA) proving its support since September on several occasions, expect the downtrend to halt at $296, for a bounce and a quick spike back up towards $344, which is the 50% Fibonacci level.
Since it is likely that by then, the nervousness in the markets will have calmed down, expect investors to take the opportunity to pick up EGLD at a discount, pushing it further towards $490, by the end of next week.
Here’s What’s Next for Decentraland, The Sandbox and Elrond, According to Crypto Analyst Michaël van de Poppe
Cryptocurrency analyst and trader Michaël van de Poppe is warning traders against buying Decentraland (MANA), The Sandbox (SAND) and Elrond (EGLD) at their current prices.
Van de Poppe tells his 148,000 YouTube subscribers that following the “epic runs” of these three altcoins, it’s time for investors to take profits in Decentraland, a virtual-world blockchain; Elrond, a scalable blockchain; and The Sandbox, a gaming platform.
“…if you are in those projects, I think the point has come to actually take profits, especially when it comes to MANA and SAND. Those have been running heavily. You have to take profits before a heavy correction starts to take place because at this point the downwards momentum might be heavier than the upwards momentum.”
Looking at the Elrond/Bitcoin (EGLD/BTC) chart, the crypto analyst says that buying opportunities are gone until a correction adjusts prices to the 0.005 BTC ($291) and 0.006 BTC ($349.20) level.
At time of writing, Elrond is trading at $427 while Bitcoin is exchanging hands at $58,200.
“If you’re seeking for any trade opportunity right now, I think the opportunities are quite gone. But the [EGLD/BTC] chart itself says that every level gets a beautiful retest taking place here before it starts to continue.
So I’m looking at any of these two levels [between 0.005 BTC and 0.006 BTC] to take any entry from, based on a daily time frame.”
Van de Poppe says he’s hoping to pick up SAND if it retraces down to about 0.00007 BTC ($4.07). The asset is trading at $7.27 at time of writing.
“So SAND, I’m not interested in trading this one at all. I’m going to look at anywhere in this region [below 0.00007 BTC] for any scalp opportunities.”
Decentraland’s MANA is trading at $5.10 at time of writing. According to the crypto analyst, MANA could drop to around 0.000055 BTC ($3.20) where it could present opportunities for longer-term trades. He recommends looking for scalping opportunities if it starts trading below 0.00007 BTC ($4.07).
“You can start looking for scalp rates here [0.00007 BTC]. But more likely, we’re going to get into this region here [around 0.000055 BTC] where you want to take some trades.”
Elrond Price Prediction: Will EGLD Price hit $1K by 2021?
The projects based on DeFi are undergoing a sustained skyward move. And trend momentum seems to be picking up pace as traders have been looking out for a more quick, secure, and scalable platform. While Elrond has been one of the revolutionary projects, pivot towards DeFi and NFTs to drag the traction of a larger user base.
The unique protocol has seen dramatic growth throughout the year as it is a highly scalable, fast, and secure blockchain platform for distributed applications. It is established to provide high-level interoperability with fast execution speed compared to other smart contracts platforms.
Would like to invest and be on the edge to know in detail everything about the asset. In this article, we will discuss thoroughly the Elrond price prediction for 2021 and beyond. Also, you will have a clear outlook on whether EGLD Price will rise or crash.
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What is Elrond ?
Elrond (EGLD) platform being a blockchain protocol seeks to provide fast and secure transaction speeds by using sharding. The EGLD’s smart contracts execution platform has the potential to handle 15,000 transactions per second.
The Elrond blockchain has its own native token named as eGold or EGLD, which is utilized to pay network fees, rewarding network validators, and staking. Elrond works on a Secure Proof-of-Stake consensus mechanism in which nodes must stake their EGLD tokens to participate in the validation process.
Elrond is a highly scalable blockchain network powered by Proof of Stake and an adaptive sharding mechanism. According to its whitepaper, it intends to develop its ecosystem and establish Elrond as a store-of-value asset.
The network’s main aim is to eradicate some drawbacks found in earlier blockchain projects like full decentralization, cross-chain interoperability, robust security, and high scalability. The project specifies itself as a technology ecosystem for the new internet including fintech and decentralized finance. Its native token eGold or EGLD is used for paying network fees and rewarding validators.
Founded by Beniamin Mincu, Lucian Mincu, and Lucian Todea, the platform encourages developers to build on it and provide 30% of the smart contract fees as royalties. The company also maintains a specified supply of ELGD tokens which is staked on its network all along the first year. The validator nodes also receive a 36% annual rate.
Elrond Price Prediction 2021
EGLD entered the year 2021 with a trading value of $24.80. On a bullish note, Elrond started an upward trajectory and progressively hit the highest levels in mid-February. However, the price declined to a certain extent, yet raised high during April around $227 and dropped again.
The market crash happened on May 19th, 2021, EGLD’s price dropped from $239.45 to $59.45 on 22nd July 2021. The EGLD price hovered around $85 for August month. EGLD regained bullish momentum in the month of September trading at $280.96.
EGLD Price for Q4: The Elrond price has brought significant profits in the ongoing quarter. The asset has made its swift move with continued collaborations and upgrades. However, the network has introduced its Maiar DEX as it has commenced into the DeFi space. The altcoin hit ATH at $516.79 on 23rd November.
If bulls continue to predominate the space, the asset would approach $700 by the year’s end. On the contrary, trend reversal would lead to a decline of the price to support $270. With average buy and sell orders, the asset would claim $400 by the end of 2021.
EGLD Price Prediction 2022
Elrond might continue the year 2022 with a price of $525 by the start of January. The price might reach newer heights with initiating certain partnerships and developments of its protocol by the community. By the end of 2022, EGLD might be traded at $1k. The token may decline to the $500 mark if it fails to perform well.
Price Prediction For The Next 5 Years
In 5 years, EGLD might concentrate on enhancing the scalability and interoperability of the platform and the price is expected to rise high if the community succeeds to provide the required updates and developments by the users. It might even compete with other altcoins platforms amid transaction speeds. The currency may sink around the $350 mark if the market continues to be volatile for a longer period of time. However, the highest level Elrond price could reach by the end of 5 years$958, Elrond could hit the $5000 mark.
Market Prediction For EGLD Price
As per wallet investor predictions, EGLD is forecasted to hit a maximum price of $531.845, minimum it would flip to $409.730. The token is expected to trade at an average price of $469.799. Walletinvestor anticipates EGLD to trade at an average price of $1342. And maximum price expected is $1408.310, minimum it would plunge back to $1278 by 2025.
Digitalcoin price analysts predict the ELGD price would reach $702.37 by the end of 2021 and $1468.70 by the end of 2025.
Gov. capital has changed their prediction for the EGLD price, they expect the protocol to hit a maximum of $578.95. And with average buy and sell pressures it would end up trading at $503.435 by the end of 2021. The website has also made a whopping prediction in the long term, they expect the price to surge maximum of $6762.87. The average and minimum probabilities is being $6054.67 and $5146.47 respectively by the end of 2025.
Our Elrond Price Prediction
Elrond price with certain variations might escalate higher if the community enters into strategic partnerships with certain projects. The price may plunge to $250 if the bulls fail to push the prices high. At the end of 2021, Elrond might be traded well above $700.
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Historic Market Sentiments
According to Coinmarketcap, Elrond entered the crypto space on 05 September 2020 with a trading value of $17.33. Surprisingly, the token sank to $12.01 within a day of trading. Later, the price started to variate and dropped to $10.11 by the end of September. Further, the coin declined to as low as $7.83 by mid-October and the currency managed to be stable with certain variations and reached $9.07 by the end of November.
Dramatically, Elrond steadily started to rise in December. Interestingly, the token hit $29.26 at the end of December as it was recognized by the marketers and further declined to $23.76 to end the year’s trade.
Is Elrond using the Proof of Work consensus algorithm?
No, Elrond uses the Proof of Stake consensus algorithm.
What makes Elrond a unique currency than others?
Elrond is unique than other currencies as it is developer friendly, secure and efficient mechanism.What is the transaction processing time of EGLD?
EGLD can process 10000-15000 transactions per second.Is Elrond a profitable investment?
Yes, Elrond might be a profitable investment for the long term as it is anticipated to rise.
Where to trade Elrond?
Elrond can be traded on the popular exchanges like Binance, CoinDCX, EtoroX, OKEx, WazirX and many more.