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Elrond Price Analysis: EGLD Coin Price Is Ready To See A Strong Rally

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  • EGLD coin price has been seeing a strong recovery and can soon see a new high in the future. Meanwhile, it has observed a seen a gain of more than 7%.
  • Elrond price technical indicators suggest a downside momentum in the future. Meanwhile, EGLD/BTC pair is also up by more than 6% in the past 24 hours.

Why Invest In EGLD Coin?

EGLD coin price is presently noticing a strong upswing in the asset and can soon see the previous level in the future. Elrond is currently exchanging close to the worth of $308 and has seen a jump of more than 10% in the past 24 hours. The resource has an ROI of 300% which helped different financial backers and individuals before. Elrond network has amazingly quick exchange speed by the sharding strategy utilized by them. EGLD considers itself a mechanical center point for this new period of the new web. Its shrewd agreements execution stage has a speed of 15,000 exchanges each second, six-second inertness, and a $0.001 exchange cost. One can put resources into EGLD according to their requirements and hazard limit.

The asset was launched in 2017 and the main individuals behind the organization are Beniamin and Lucian Todea. The market cap of the coin along with the volume is seeing a strong paced recovery and can soon see a new high in the future.

Technical Indicators Of EGLD Coin Price Suggests A Strong Momentum

Source: Trading view

EGLD coin price is currently seeing a weak-paced recovery in the weekly chart and can soon see a new high in the future. Meanwhile, on the daily chart, the asset has been seeing a downside trend. The resistance of ELROND can be observed near $350. Meanwhile, the support of the asset can be observed near $250. The price is currently trading in between the 50 and 100 Daily Moving Average, and can soon see a positive breakout in the future. The 100MA  line is near $327 making it temporary support of the asset price. If the price of the coin crosses above $350 then a strong rally can be seen. EGLD/BTC pair can also observe a new high in the future

Conclusion

EGLD coin price has been seeing a bearish momentum and can soon see a new high in the future. EGLD/BTC pair can also see a new in the future.

Technical Levels

Major Support:$250

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Major Resistance:$350

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