💎 EGLD has formed an inverse head and shoulders pattern within a support zone, aligning with its overall bullish trend. Additionally, CHoCH (Change of Character) and BOS (Breakout Sign) signals have been observed on the price chart, further enhancing the likelihood of a bullish move following a breakout above the resistance level or the neckline of the inverse head and shoulders pattern.
💎A pullback to the Bullish OB level could serve as a potential bounce point, particularly as it aligns with the Fibonacci 0.618 level.
💎However, if EGLDUSDT falls below the support zone, it would signify a bearish structure, potentially leading to downward movement in the price