Chart shows common supports and resistances based on the Fibonacci and price action. The total evaluation for the EGLD token is bullish. The coin itself has a very healthy market sentiment within the 0.236 FIB and established a lower high even at oversold levels in the Relative Strength Index, however a new resistance is formed with an obvious FOMO pump, and will take some considerable amount of retracement to even get back to the normal curve of bullish ascending wedge. A decent retracement back to the strong support of 0.236 is more likely to be a good long, but considering a soft buy at 0.382 is not a bad choice either.
The recommended strategy for the coin is to long it during bull markets and buy it in general bear trends. You should start selling off the price at the previous resistance above the 0.618 instead of gambling for a further upside which is considered to be random or an outlier.
The recommended strategy for the coin is to long it during bull markets and buy it in general bear trends. You should start selling off the price at the previous resistance above the 0.618 instead of gambling for a further upside which is considered to be random or an outlier.
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