EGLD is a really strong project, but as we know in crypto even the strongest projects face heavy downtrends and big dumps. EGLD has not had a real dump since the big pump as a hedge ill short EGLD, because the DEFI is not really running yet and I see coins with a healthy defi system pumping like crazy now. If this short play works out it will give some nice gains and I will certainly long it if I reach my target. The volume is also decreasing for EGLD on all exchanges a heavy lower high has been printed, it would seem that EGLD is ready for a dump.
Hi, I think you are very wrong. The next 10 days I think will be amazing for EGLD. Corrections yes but a dump for this kind of project is very hard for me to see. All the best!
scousertommy
⋅
but bro didnt they just upgrade today i just read something
@JVBelleca, that means there are no big defi projects ready yet and pumping the coin, like BTT. It can still pump but the chances are very small. Buy the hype sell the news.
JVBelleca
⋅
@Marginbuu, hahaha how is it going to reach 45usd when almost 60% of the circulating supply are staked? This doesn't make any sense.
Serenation
⋅
@JVBelleca, EXACTLY. We have bottomed already! Remaining selling pressure is extremely limited.
Marginbuu
⋅
@JVBelleca, they could dump the price back to 50 usd with only 5 % of the supply, locking in a big amount is really no argument on the short term. Just check the chart on egld / btc and click on monthly, you will see a really unhealthy pattern. one big giant reject followed by two smaller rejects, based on ta it will certainly drop, but ta is not always right i agree with that.
Marginbuu
⋅
@JVBelleca, well you assume that the demand stays the same or increases, the demand is not a linear or static thing. People are reluctant to buy coins that just went up 30x in a short amount of time. if you ask egld to go x3 now within a short time, you really are asking for something that maybe never happened in crypto before. BTC took 3 year to go from 1 usd to 200. egld did that in 6 months, it's not really safe is it.
JVBelleca
⋅
@Marginbuu, you are talking about bitcoin a decade ago when no one knows what cryptocurrency is. How about ETH it went 200 to 2000 in a year. You have to consider the Fundamentals and the market cap if you want to know the potential of a coin. Technical Analysis is important if you know how to do it correctly and it is not done by drawing some random lines and random prices. Egld is not in the top 20 in terms of market cap Jesus Christ!
Serenation
⋅
@Marginbuu, The difference between now and Bitcoin's early days is that the cryptocurrency market is now a 2 trillion dollar market. It takes very little of that money to move right into EGLD as it has the best returns for staking along with a similar supply to BTC. Assuming that those staking will keep staking, the supply is even LESS than BTC. EGLD has the strongest fundamentals out of the entire crypto market; speed, latency, utility, ease of use, etc. and still so many are not aware of this blockchain. Sentiment can only favor it from here.