Slow, confident, stable. This is the motto chosen by buyers in the EGLD market for their growth strategy. On the global chart, we see that buyers have managed to push the price <a href="https://www.cryptoknowmics.com/news/egld-technical-analysis-will-the-range-breakout-touch-400/">above the critical range</a> of $220-$240. If the very fact of the breakthrough and the first retest took place in the EGLD market at increased volumes, then the continuation of growth from the end of September 2021 took place at low volumes. The EGLD price without initiative continues the inert movement, which often ends in a sharp change in the trend.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/v/vrtOd1Cl.png" alt="EGLD" width="1386" height="790" />

<a href="https://www.tradingview.com/x/vrtOd1Cl/">https://www.tradingview.com/x/vrtOd1Cl/</a>

The ideal scenario for continued EGLD price growth is a re-test in the range of $220-$240. In this case, market participants will make sure that this range is interesting to buyers and their plans for growth with the first target of $510 is still valid. However, breaking and fixing the price below the $220-$240 range with a few weekly candles will mean the end of the growth wave. The first target of sellers in this scenario is around $150. Based on the results of the rebound of the EGLD price from this mark, it will be possible to conclude whether the fall wave has ended or it is just a short stall.
<h2>Technical Analysis of EGLD in the Daily Timeframe</h2>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/6/6X2lce8D.png" alt="EGLD" width="1386" height="790" />

<a href="https://www.tradingview.com/x/6X2lce8D/">https://www.tradingview.com/x/6X2lce8D/</a>

However, if you look at the situation in the EGLD market in the daily timeframe, the situation does not look so deplorable. After breaking the local critical point of $275 up, buyers slowed down the pressure on the price, and the initiative was intercepted locally by sellers. But, at the moment, the correction of the local growth wave from 21 September is within the norm. A critical situation will arise if buyers lose control of the $275 mark. And while the price is above this mark, the EGLD price moves at the top of the trend channel, which characterizes the strength of buyers. The first local target of buyers when keeping the $275 mark is in the $360 mark. While trading volumes are low, the issue of accelerating the trend without deep correction is irrelevant.
<h2>EGLDBTC Price Is in Good Position for Impulse by 20%</h2>
<img src="https://s3.tradingview.com/snapshots/j/jPmbeUmu.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/jPmbeUmu/">https://www.tradingview.com/x/jPmbeUmu/</a>

Given the <a href="https://www.cryptoknowmics.com/news/bitcoin-bleeds-towards-60000-as-major-cryptos-drop/">fall of the BTC price</a> since 15 November, the EGLD cryptocurrency is quite well afloat. This is due to the good position of buyers in the EGLDBTC market. While the situation in the cryptocurrency market is not the best, buyers keep the EGLDBTC price in consolidation. This position indicates the willingness of buyers to start the impulse, but when the market is favorable. Keeping the BTC price above $60,000 will be a good signal for EGLD buyers to take action. Given that EGLD has recently been the cryptocurrency of the pedestrian echelon of growth, we expect good price movements by the end of the year.

EGLD Technical Analysis: The Main Target of Buyers Is in the $510 Mark

However, if you look at the situation in the EGLD market on the daily timeframe, the situation does not look so deplorable.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

EGLD Technical Analysis: The Main Target of Buyers Is in the $510 Mark

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