EGLD / TetherUS
Long

EGLDUSDT → Growth may resume after the correction stops

EGLDUSDT is trying to finish the technical phase of correction and continue the global uptrend amid the realization of 2-year accumulation.

snapshot

Since the middle of last year, the coin was in hibernation, or rather in the consolidation phase. Formed a bottom, a narrow corridor allowed the formation of a strong support area. On the background of cryptocurrency market recovery, the growth of the flagship - bitcoin, EGLD revives, but at the same time forms trend resistance. On D2 the resistance is broken and for a few weeks the price forms a consolidation above the line, on H6 it is a descending range (correction).
On the main chart we see an attempt by price to break the correction resistance. Consolidation of price above 53.45 will form a bullish potential that could resume the uptrend.

Support levels: 53.45, 51.4, 47.11
Resistance levels: 60.1, 68.48


I expect the continuation of the global trend, but for this the bulls need to finish the correction phase, which is within the current descending channel. A breakout of the resistance and consolidation above this level will be a good signal

BTCUSD TOTAL

Regards R. Linda!

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.