Analysis of EGOLD/Tether Pair on Binance (1W Timeframe)
The chart illustrates the price action of EGOLD against Tether on the Binance platform, observed on a weekly timeframe.
Observations:
Historically, EGOLD experienced a significant rally reaching an all-time high (ATH) near the $545.25 level. Following this, there was a retracement with the price finding support around the $50 mark.
The Fibonacci retracement levels are distinctly marked, highlighting potential resistance and support areas. The price is currently in proximity to the 0.236 level, valued at approximately $126.55.
A descending trendline is evident. A bullish reversal would necessitate a definitive break above this line.
The chart includes the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators. Currently, the RSI sits within a neutral range, while the MACD portrays consolidation, absent of a clear bullish or bearish divergence.
Short-Term (Scalp) Targets:
Immediate resistance is pinpointed at the 0.236 Fibonacci level ($126.55). A break above this could lead to targets at 0.382 ($184.51) and subsequently, 0.5 ($231.01).
Long-Term Targets:
For the asset to indicate a sustained bullish momentum, it would need to surpass its previous ATH. Beyond this, the extended Fibonacci levels suggest potential new ATH targets:
1.618 level would place the price at around $880 (approximation based on the current chart's scale).
2.618 level could see it reach around $1,400.
3.618 level might elevate it to near $1,920.
Breaking above the descending trendline and consistently staying above the indicated Fibonacci levels would hint at a potential move towards these new ATHs.
Observations:
Historically, EGOLD experienced a significant rally reaching an all-time high (ATH) near the $545.25 level. Following this, there was a retracement with the price finding support around the $50 mark.
The Fibonacci retracement levels are distinctly marked, highlighting potential resistance and support areas. The price is currently in proximity to the 0.236 level, valued at approximately $126.55.
A descending trendline is evident. A bullish reversal would necessitate a definitive break above this line.
The chart includes the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators. Currently, the RSI sits within a neutral range, while the MACD portrays consolidation, absent of a clear bullish or bearish divergence.
Short-Term (Scalp) Targets:
Immediate resistance is pinpointed at the 0.236 Fibonacci level ($126.55). A break above this could lead to targets at 0.382 ($184.51) and subsequently, 0.5 ($231.01).
Long-Term Targets:
For the asset to indicate a sustained bullish momentum, it would need to surpass its previous ATH. Beyond this, the extended Fibonacci levels suggest potential new ATH targets:
1.618 level would place the price at around $880 (approximation based on the current chart's scale).
2.618 level could see it reach around $1,400.
3.618 level might elevate it to near $1,920.
Breaking above the descending trendline and consistently staying above the indicated Fibonacci levels would hint at a potential move towards these new ATHs.
Ghi chú
In the mid-term trend I will take a profit at 74.92 %20
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.