EGLD on the daily timeframe has formed a new lower high since bouncing of the 0.618 fib, i am expecting the continuation to the downside to follow and a new lower low from a daily perspective, on the 4hr timeframe we are waiting for price to close below the counter trendline and 4hr swing low for a entry confirmation to short.
It could work out in the short term, taking into consideration that next month they will launch the exchange, things might bounce towards the upside in the midterm