fxstreet.com 16 Feb, 2021 15:30 am

EGLD to jump by 20% as key indicator screams buy

EGLD to jump by 20% as key indicator screams buy
After hitting an all-time high of $217 on February 9, Elrond price has suffered a significant pullback down to $65.6 on February 15, but bulls managed

Elrond price is contained inside a descending wedge pattern on the 9-hour chart.After hitting an all-time high of $217 on February 9, Elrond price has suffered a significant pullback down to $65.Elrond price on the brink of a breakout to $180 On the 9-hour chart, Elrond has established a descending wedge pattern which is really close to a breakout or breakdown.A breakout above $148 can quickly push Elrond price towards $180, a 22% move calculated by using the maximum height of the wedge pattern.

Losing this key level can drive Elrond price down to $118, the 50% Fibonacci Retracement level and as low as $95, at the 38.EGLD/USD 9-hour chart The TD Sequential indicator has just presented a buy signal on the 9-hour chart giving the upper hand to the bulls.

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