This bullish movement may have been prompted by recent events. On September 22nd, Opera users who have enabled the built-in crypto wallet will be able to utilize EGLD. The market may react to these events by increasing the price.<\/p>\n
But will EGLD’s price be able to continue to push above the $55 barrier – or will that level finally prove to be too much to overcome? Bulls are eyeing the $65 mark, but even that proves to be a major challenge.<\/p>\n
A Clue To The Puzzle That Is Elrond<\/strong><\/h2>\nThe token is trading at $56.19, which is a loss as of this writing. The recent market action has established a bullish cup and handle pattern, which should help push prices through the $57.84 barrier, data from Coingecko show.<\/p>\n
At the time of writing, both the RSI and Chaikin’s money flow index show bullish convergence, which is excellent news for the altcoin as a whole. The momentum indicator, however, shows that bullish enthusiasm is losing steam.<\/p>\n
Despite the construction of a cup and handle, this may be a negative indication for the market. The 50-day and 100-day simple moving\u00a0 averages are also providing dynamic support for the potential bull run.<\/p>\n
![\"\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/C1-29.png?resize=460%2C229\")
<\/p>\n
Chart: TradingView<\/pre>\nEGLD: Bull – Or Bear Run?<\/strong><\/h2>\nNow that the technicalities are out of the way, we can claim that EGLD is currently slowing<\/a> down. This may be an indication that a correction phase will occur in the next days or weeks.<\/p>\nWith present support around $54.40 and resistance at $57.80, the bulls have a very narrow margin of error.<\/p>\n
The momentum deceleration may propagate to other indications, compelling bulls to make decisions that will inevitably exert downward pressure on the coin.<\/p>\n
The prior rejection of $57.80 may signify the beginning of a market correction. The present sideways price trend does not portend well for the token, particularly in the immediate term.<\/p>\n
The tight ascending triangle for the handle of the cup will not aid EGLD investors and traders in achieving the anticipated relief rally.<\/p>\n
As of this writing, bears have seized control of the Elrond market and are creating a downturn. Traders should focus on the shorter time frames.<\/p>\n
If the bears ever gain sufficient momentum, a defense at $51.76 and a fallback at $46.16 will halt the downturn.<\/p>\n
Related Reading: Quant Balloons Over 35% In Last 7 Days Courtesy Of Strong Social Metrics<\/a><\/div>\n![](\"https:\/\/www.tradingview.com\/x\/dEYZDejx\/\")
<\/p>\n
EGLD\/USD pair trading at $57.97 billion on the daily chart | Featured image from Bankless Times, Chart: TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"Elrond was rising before leveling off at around $54.40. The EGL price has recently broken through a key price resistance level, rising above $56.37. On weekly, biweekly, and monthly time frames, Elrond has been performing bullishly, based on data by\u00a0Coingecko, Thursday. This bullish movement may have been prompted by recent events. On September 22nd, Opera users who have enabled the built-in crypto wallet will be able to utilize EGLD. The market may react to these events by increasing the price. But will EGLD’s price be able to continue to push above the $55 barrier – or will that level finally prove to be too much to overcome? Bulls are eyeing the $65 mark, but even that proves to be a major challenge. Related Reading: Monero Coin Climbs 6% In Last 3 Days \u2013 Bullish Activities Seen For XMR A Clue To The Puzzle That Is Elrond The token is trading at $56.19, which is a loss as of this writing. The recent market action has established a bullish cup and handle pattern, which should help push prices through the $57.84 barrier, data from Coingecko show. At the time of writing, both the RSI and Chaikin’s money flow index show bullish convergence, which is excellent news for the altcoin as a whole. The momentum indicator, however, shows that bullish enthusiasm is losing steam. Despite the construction of a cup and handle, this may be a negative indication for the market. The 50-day and 100-day simple moving\u00a0 averages are also providing dynamic support for the potential bull run. Chart: TradingView EGLD: Bull – Or Bear Run? Now that the technicalities are out of the way, we can claim that EGLD is currently slowing down. This may be an indication that a correction phase will occur in the next days or weeks. With present support around $54.40 and resistance at $57.80, the bulls have a very narrow margin of error. The momentum deceleration may propagate to other indications, compelling bulls to make decisions that will inevitably exert downward pressure on the coin. The prior rejection of $57.80 may signify the beginning of a market correction. The present sideways price trend does not portend well for the token, particularly in the immediate term. The tight ascending triangle for the handle of the cup will not aid EGLD investors and traders in achieving the anticipated relief rally. As of this writing, bears have seized control of the Elrond market and are creating a downturn. Traders should focus on the shorter time frames. If the bears ever gain sufficient momentum, a defense at $51.76 and a fallback at $46.16 will halt the downturn. Related Reading: Quant Balloons Over 35% In Last 7 Days Courtesy Of Strong Social Metrics EGLD\/USD pair trading at $57.97 billion on the daily chart | Featured image from Bankless Times, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":507098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[5687,15877,86661,83567,79915],"class_list":["post-507095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bear-market","tag-crypto-winter","tag-egld","tag-egldusd","tag-elrond"],"acf":[],"yoast_head":"\n
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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Elrond Coin Looks To Breach $55 Resistance – Is $65 Hittable This Month?","url":"http:\/\/wncen.com\/news\/elrond-coin-looks-to-breach-55-resistance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/elrond-coin-looks-to-breach-55-resistance\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Elrond-2.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Elrond-2.png?fit=1026%2C551"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bear market","crypto winter","egld","egldusd","elrond"],"dateCreated":"2022-10-20T07:00:41Z","datePublished":"2022-10-20T07:00:41Z","dateModified":"2022-10-20T07:00:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Elrond Coin Looks To Breach $55 Resistance – Is $65 Hittable This Month?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/elrond-coin-looks-to-breach-55-resistance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/elrond-coin-looks-to-breach-55-resistance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Elrond-2.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Elrond-2.png?fit=1026%2C551\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bear market\",\"crypto winter\",\"egld\",\"egldusd\",\"elrond\"],\"dateCreated\":\"2022-10-20T07:00:41Z\",\"datePublished\":\"2022-10-20T07:00:41Z\",\"dateModified\":\"2022-10-20T07:00:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Elrond-2.png?fit=1026%2C551","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507095"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=507095"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/507098"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=507095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=507095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=507095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/p>\nEGLD: Bull – Or Bear Run?<\/strong><\/h2>\nNow that the technicalities are out of the way, we can claim that EGLD is currently slowing<\/a> down. This may be an indication that a correction phase will occur in the next days or weeks.<\/p>\nWith present support around $54.40 and resistance at $57.80, the bulls have a very narrow margin of error.<\/p>\n
The momentum deceleration may propagate to other indications, compelling bulls to make decisions that will inevitably exert downward pressure on the coin.<\/p>\n
The prior rejection of $57.80 may signify the beginning of a market correction. The present sideways price trend does not portend well for the token, particularly in the immediate term.<\/p>\n
The tight ascending triangle for the handle of the cup will not aid EGLD investors and traders in achieving the anticipated relief rally.<\/p>\n
As of this writing, bears have seized control of the Elrond market and are creating a downturn. Traders should focus on the shorter time frames.<\/p>\n
If the bears ever gain sufficient momentum, a defense at $51.76 and a fallback at $46.16 will halt the downturn.<\/p>\n
Related Reading: Quant Balloons Over 35% In Last 7 Days Courtesy Of Strong Social Metrics<\/a><\/div>\n<\/p>\n
EGLD\/USD pair trading at $57.97 billion on the daily chart | Featured image from Bankless Times, Chart: TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"Elrond was rising before leveling off at around $54.40. The EGL price has recently broken through a key price resistance level, rising above $56.37. On weekly, biweekly, and monthly time frames, Elrond has been performing bullishly, based on data by\u00a0Coingecko, Thursday. This bullish movement may have been prompted by recent events. On September 22nd, Opera users who have enabled the built-in crypto wallet will be able to utilize EGLD. The market may react to these events by increasing the price. But will EGLD’s price be able to continue to push above the $55 barrier – or will that level finally prove to be too much to overcome? Bulls are eyeing the $65 mark, but even that proves to be a major challenge. Related Reading: Monero Coin Climbs 6% In Last 3 Days \u2013 Bullish Activities Seen For XMR A Clue To The Puzzle That Is Elrond The token is trading at $56.19, which is a loss as of this writing. The recent market action has established a bullish cup and handle pattern, which should help push prices through the $57.84 barrier, data from Coingecko show. At the time of writing, both the RSI and Chaikin’s money flow index show bullish convergence, which is excellent news for the altcoin as a whole. The momentum indicator, however, shows that bullish enthusiasm is losing steam. Despite the construction of a cup and handle, this may be a negative indication for the market. The 50-day and 100-day simple moving\u00a0 averages are also providing dynamic support for the potential bull run. Chart: TradingView EGLD: Bull – Or Bear Run? Now that the technicalities are out of the way, we can claim that EGLD is currently slowing down. This may be an indication that a correction phase will occur in the next days or weeks. With present support around $54.40 and resistance at $57.80, the bulls have a very narrow margin of error. The momentum deceleration may propagate to other indications, compelling bulls to make decisions that will inevitably exert downward pressure on the coin. The prior rejection of $57.80 may signify the beginning of a market correction. The present sideways price trend does not portend well for the token, particularly in the immediate term. The tight ascending triangle for the handle of the cup will not aid EGLD investors and traders in achieving the anticipated relief rally. As of this writing, bears have seized control of the Elrond market and are creating a downturn. Traders should focus on the shorter time frames. If the bears ever gain sufficient momentum, a defense at $51.76 and a fallback at $46.16 will halt the downturn. Related Reading: Quant Balloons Over 35% In Last 7 Days Courtesy Of Strong Social Metrics EGLD\/USD pair trading at $57.97 billion on the daily chart | Featured image from Bankless Times, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":507098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[5687,15877,86661,83567,79915],"class_list":["post-507095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bear-market","tag-crypto-winter","tag-egld","tag-egldusd","tag-elrond"],"acf":[],"yoast_head":"\n
Elrond (EGLD) Coin Looks To Break Past The $55 Resistance Line<\/title>\n<meta name=\"description\" content=\"Elrond was rising before leveling off at $54.40. The EGL price has recently broken through a key price resistance level, rising above $56.37.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/elrond-coin-looks-to-breach-55-resistance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elrond (EGLD) Coin Looks To Break Past The $55 Resistance Line\" \/>\n<meta property=\"og:description\" content=\"Elrond was rising before leveling off at $54.40. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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With present support around $54.40 and resistance at $57.80, the bulls have a very narrow margin of error.<\/p>\n
The momentum deceleration may propagate to other indications, compelling bulls to make decisions that will inevitably exert downward pressure on the coin.<\/p>\n
The prior rejection of $57.80 may signify the beginning of a market correction. The present sideways price trend does not portend well for the token, particularly in the immediate term.<\/p>\n
The tight ascending triangle for the handle of the cup will not aid EGLD investors and traders in achieving the anticipated relief rally.<\/p>\n
As of this writing, bears have seized control of the Elrond market and are creating a downturn. Traders should focus on the shorter time frames.<\/p>\n
If the bears ever gain sufficient momentum, a defense at $51.76 and a fallback at $46.16 will halt the downturn.<\/p>\n
<\/p>\n
EGLD\/USD pair trading at $57.97 billion on the daily chart | Featured image from Bankless Times, Chart: TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"Elrond was rising before leveling off at around $54.40. The EGL price has recently broken through a key price resistance level, rising above $56.37. On weekly, biweekly, and monthly time frames, Elrond has been performing bullishly, based on data by\u00a0Coingecko, Thursday. This bullish movement may have been prompted by recent events. On September 22nd, Opera users who have enabled the built-in crypto wallet will be able to utilize EGLD. The market may react to these events by increasing the price. But will EGLD’s price be able to continue to push above the $55 barrier – or will that level finally prove to be too much to overcome? Bulls are eyeing the $65 mark, but even that proves to be a major challenge. Related Reading: Monero Coin Climbs 6% In Last 3 Days \u2013 Bullish Activities Seen For XMR A Clue To The Puzzle That Is Elrond The token is trading at $56.19, which is a loss as of this writing. The recent market action has established a bullish cup and handle pattern, which should help push prices through the $57.84 barrier, data from Coingecko show. At the time of writing, both the RSI and Chaikin’s money flow index show bullish convergence, which is excellent news for the altcoin as a whole. The momentum indicator, however, shows that bullish enthusiasm is losing steam. Despite the construction of a cup and handle, this may be a negative indication for the market. The 50-day and 100-day simple moving\u00a0 averages are also providing dynamic support for the potential bull run. Chart: TradingView EGLD: Bull – Or Bear Run? Now that the technicalities are out of the way, we can claim that EGLD is currently slowing down. This may be an indication that a correction phase will occur in the next days or weeks. With present support around $54.40 and resistance at $57.80, the bulls have a very narrow margin of error. The momentum deceleration may propagate to other indications, compelling bulls to make decisions that will inevitably exert downward pressure on the coin. The prior rejection of $57.80 may signify the beginning of a market correction. The present sideways price trend does not portend well for the token, particularly in the immediate term. The tight ascending triangle for the handle of the cup will not aid EGLD investors and traders in achieving the anticipated relief rally. As of this writing, bears have seized control of the Elrond market and are creating a downturn. Traders should focus on the shorter time frames. If the bears ever gain sufficient momentum, a defense at $51.76 and a fallback at $46.16 will halt the downturn. Related Reading: Quant Balloons Over 35% In Last 7 Days Courtesy Of Strong Social Metrics EGLD\/USD pair trading at $57.97 billion on the daily chart | Featured image from Bankless Times, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":507098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[5687,15877,86661,83567,79915],"class_list":["post-507095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bear-market","tag-crypto-winter","tag-egld","tag-egldusd","tag-elrond"],"acf":[],"yoast_head":"\n
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