EGLDUSDT Chart Update

Jul 7

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Now, let’s dive into this chart analysis:

EGLD has formed a falling wedge pattern with a breakout and close above the resistance trendline. Technically, this is a bullish pattern, and we will likely see a bullish trend for EGLD in the upcoming days.

Currently, the 50 EMA is holding the price at $34.5 as a strong resistance. EGLD is yet to show a retest after the breakout; therefore, a retest at $30 to $32 is expected.

Observations:

~ Primary Resistance: 50 EMA at $34.5.
~ Support: $30 to $32.
~ Target: $65 to $75.
~ Invalidation Point: A breakdown and close below $26.43.

DYOR, NFA.

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