Over two weeks ago I made an analysis on the inverse head & shoulders pattern that I spotted on the EGLD chart.
In today's analysis, I'd like to discuss the upcoming potential moves from this coin. With BTC currently trading sideways, it's to be expected that EGLD will follow this pattern. I've marked the area between $120 and $150 as the most likely area where this sideways movement will occur since it's between big supports and resistances.
On the other hand, a break-out above $150, combined with an upward move from BTC could lead to a new bullish push towards $200, which is also the first main resistance the price will encounter in the near future.
Happy trading!
In today's analysis, I'd like to discuss the upcoming potential moves from this coin. With BTC currently trading sideways, it's to be expected that EGLD will follow this pattern. I've marked the area between $120 and $150 as the most likely area where this sideways movement will occur since it's between big supports and resistances.
On the other hand, a break-out above $150, combined with an upward move from BTC could lead to a new bullish push towards $200, which is also the first main resistance the price will encounter in the near future.
Happy trading!
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๐Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
โ Monster Signals: t.me/monster_cryptosignals
๐ฅPremium Signals: www.fierytrading.com
