🚀 $EGLD V-Shaped Recovery: Is the Correction Over? 📉➡️📈
$EGLD (MultiversX) is currently trading at **$4.086**, up +0.22% today. After a sharp drop to a 24h low of $3.980, the bulls stepped in aggressively to defend the $4.00 psychological level. Let's dive into the charts! 👇
📊 Technical Snapshot (15m TF):
· Price Action: We just witnessed a classic V-shaped recovery. The price wicked down to 3.980, liquidating weak hands, before immediately bouncing back up to current levels around 4.08.
· Moving Averages: The MA(7) at 4.112, MA(25) at 4.069, and MA(99) at 4.108 are converging. The price is currently fighting to reclaim the MA(25) after bouncing off the lows. A golden cross here could fuel the next leg up.
· RSI (6): Sitting at 47.96, perfectly neutral. The RSI has recovered from oversold conditions during the dip, meaning there is plenty of room for upward momentum without being overbought.
📈 The Bigger Picture (Macro Trend):
Despite the recent short-term pullback, the macro trend remains heavily bullish:
🔥 30 Days: +46.34%
🔥 90 Days: +41.28%
🟡 7 Days: -8.58% (Healthy correction)
🔴 1 Year: -72.02% (Still heavily discounted from ATHs)
The 7-day pullback looks like a necessary cooldown after a massive 46% monthly rally. The fact that buyers are defending the $4.00 zone is a very positive sign for the macro uptrend.
🎯 Key Levels to Watch:
· Resistance: $4.11 - $4.21 — The price needs to break above the cluster of MAs and the 24h high of 4.211 to confirm a full bullish reversal.
· Support: $3.98 - $4.00 — This is the line in the sand. As long as EGLD holds above $4.00, the bulls are in control.
💬 What's your play?
Are you buying this V-shaped bounce, or are you waiting for a confirmed breakout above $4.11? Let me know in the comments! 👇
Disclaimer: Not financial advice. Always DYOR.
#EGLD #MultiversX #BinanceSquare #CryptoTrading #Altcoins #Layer1 #CryptoCommunity
$EGLD
$EGLD (MultiversX) is currently trading at **$4.086**, up +0.22% today. After a sharp drop to a 24h low of $3.980, the bulls stepped in aggressively to defend the $4.00 psychological level. Let's dive into the charts! 👇
📊 Technical Snapshot (15m TF):
· Price Action: We just witnessed a classic V-shaped recovery. The price wicked down to 3.980, liquidating weak hands, before immediately bouncing back up to current levels around 4.08.
· Moving Averages: The MA(7) at 4.112, MA(25) at 4.069, and MA(99) at 4.108 are converging. The price is currently fighting to reclaim the MA(25) after bouncing off the lows. A golden cross here could fuel the next leg up.
· RSI (6): Sitting at 47.96, perfectly neutral. The RSI has recovered from oversold conditions during the dip, meaning there is plenty of room for upward momentum without being overbought.
📈 The Bigger Picture (Macro Trend):
Despite the recent short-term pullback, the macro trend remains heavily bullish:
🔥 30 Days: +46.34%
🔥 90 Days: +41.28%
🟡 7 Days: -8.58% (Healthy correction)
🔴 1 Year: -72.02% (Still heavily discounted from ATHs)
The 7-day pullback looks like a necessary cooldown after a massive 46% monthly rally. The fact that buyers are defending the $4.00 zone is a very positive sign for the macro uptrend.
🎯 Key Levels to Watch:
· Resistance: $4.11 - $4.21 — The price needs to break above the cluster of MAs and the 24h high of 4.211 to confirm a full bullish reversal.
· Support: $3.98 - $4.00 — This is the line in the sand. As long as EGLD holds above $4.00, the bulls are in control.
💬 What's your play?
Are you buying this V-shaped bounce, or are you waiting for a confirmed breakout above $4.11? Let me know in the comments! 👇
Disclaimer: Not financial advice. Always DYOR.
#EGLD #MultiversX #BinanceSquare #CryptoTrading #Altcoins #Layer1 #CryptoCommunity
$EGLD