(EGLD) On the verge to the rise ? 🤔

Hello everyone !


Today the Black Cat Trader is analyzing Egold (EGLD) based on a weekly chart 📈


What we can see :

- Prices got rejected by the 1.618 fib extension on the last ATH candle

- Right now, prices are supported by the uptrend line (which acts as a strong support since October 2021), plus the intermediary lower line of the pitchfork.

- On the other hand, prices are located UNDER the MM20 and the EMA21 which act as strong resistances.

- We can also identify a bearish divergence on the RSI and a bearish cross over on the MACD. The spreads on Binance seems to high too…


What we can expect :

If EGLD manages to hold the uptrend line, we can expect prices to reach upper levels. But, there are several major resistances to break to make new ATH..


Resistance 1 : MM20 / EMA21
Resistance 2 : Kijun / median line of the pitchfork
Resistance 3 : Tenkan / 1.618 fib extension

Support 1 : Uptrend line
Supports 2 : Intermediary lower line of the pitchfork
Supports 3 : MM50 / Lower line of the pitchfork


TP1 : 443 $
TP2 : 677 $
TP3 : 924 $


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