the demand for the asset price advancesThe EGLD asset has exhibited bullish strength from the key support and rising capacity as it approaches the major dynamic EMA bands from below.
Similarly, the Multiversx (EGLD) asset has displayed bullish behavior, as MACD showed a growing histogram at 0.56, with a strong bullish cross. The RSI headed for overbought jumping from 14 SMA, which flashed at 52.40 (at press time).
Therefore, if the demand for the asset price advances, the EGLD asset price could bounce back from the current level. The next nearest target in the rally would be to reach $37, and $45, respectively.
However, if the MultiversX crypto price fails to stay above the $26.95 level, it could decline further towards $22.38, as well. So Investor's should stay cautious (DYOR).
