the EGO asset is exhibiting slight bullish performanceThe Paysenger (EGO) cryptocurrency experienced an intense price movement over the daily chart, indicating that bulls were in control from the last week of February 2024. The price rose from $0.04250 and reached its highest point at $0.13000 on March 20th, 2024.
However, the bulls lost strength, allowing the bears to take over and causing the price to fall as the bears dominated the chart. The uptrend was broken, and the price declined, forming a lower low structure on the daily chart.
Recently, the EGO crypto has indicated a sign of turnaround as the price has shown bear resistance and displays some positivity on a key level of around $0.05600 on the chart.
The Paysenger crypto is primed for a phenomenal rally, as it accumulates power to break the resistance level ahead and could zoom to new highs from the current base zone. The EGO asset is displaying bullish strength and rising tendency as it sustains at support and approaches major 20-day and 50-day EMA's to cut from below.
In the same way, the EGO asset is exhibiting slight bullish performance as MACD started to converge, which is at -0.00361 and the RSI is not close to the 70 level yet, meaning that the Paysenger asset is not facing significant selling pressure and it is above 14-SMA, which highlights that it can continue to rise.
Likewise, it has delivered good results in the previous week, by 2.72% gradual gains, which signifies a beginning of solid upward momentum in the coming sessions.
At press time, the EGO price is at $0.06162 and shows an intraday surge of 0.26%.
If the EGO price manages to sustain effectively at $0.05600 critical support, the chances of buyers interest increasing could be higher, which can lead its price towards $0.08300, and $0.11700.
If the price of EGO drops further and breaks its support at $0.05600, it may reach the demand zone, which could potentially cause a decrease in the EGO price.
