EGLD has been one of the weaker alts in the last few weeks. Where most alts have been trading relatively stable, EGLD continues to sell off and make new lows.
Currently, we're at the same valuations as we were during the summer-21 bear market, giving away around 90% since the all-time high in November.
This area of support is the last area where the bulls can opt in for a reversal. With BTC trading sideways, we might see EGLD bounce in the near future. Wait for confirmation of the bounce, since you don't want to catch a falling knife.
A $100 target seems reasonable, as long as BTC doesn't work against us.
Currently, we're at the same valuations as we were during the summer-21 bear market, giving away around 90% since the all-time high in November.
This area of support is the last area where the bulls can opt in for a reversal. With BTC trading sideways, we might see EGLD bounce in the near future. Wait for confirmation of the bounce, since you don't want to catch a falling knife.
A $100 target seems reasonable, as long as BTC doesn't work against us.
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