Bullish outlook for MultiversX base token, egold (EGLD)
Since April 25,
EGLD has been trading above a key trend indicator — closing 27 days above the S/R 1D50EMA, with a 6-day deviance below that line.
The 50-day exponential moving average has played a significant role for the token, indicating short- and mid-term trends and market sentiment for egold and the MultiversX chain.
This current behavior signals strength and a rising positive sentiment. I wouldn't be surprise with a sudden run to each of the previous touching points: $25.5 and $37, making 40% to 100% from the current $18.2.
Despite the targets, trading and closing all these days above the 1D50EMA marks a significant trend shift after nearly 5 months trading below this average (bearish), followed by a massive negative sentiment in the MvX ecosystem.
Things are changing in a great timing with the Andromeda upgrade activation — the biggest release for MultiversX since the mainnet launch around five years ago.
Since April 25,
EGLD has been trading above a key trend indicator — closing 27 days above the S/R 1D50EMA, with a 6-day deviance below that line.The 50-day exponential moving average has played a significant role for the token, indicating short- and mid-term trends and market sentiment for egold and the MultiversX chain.
This current behavior signals strength and a rising positive sentiment. I wouldn't be surprise with a sudden run to each of the previous touching points: $25.5 and $37, making 40% to 100% from the current $18.2.
Despite the targets, trading and closing all these days above the 1D50EMA marks a significant trend shift after nearly 5 months trading below this average (bearish), followed by a massive negative sentiment in the MvX ecosystem.
Things are changing in a great timing with the Andromeda upgrade activation — the biggest release for MultiversX since the mainnet launch around five years ago.
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