📈💥 Greetings, traders and investors of @TradingView! Let's dive into the analysis of elrond!
🚀 Today, EGLDUSDT finds itself in a relatively low position after experiencing a massive crash from its all-time high (ATH) at $544. The price has plummeted by nearly 95% to the $30-35 zone, where it currently resides.
🔍 When examining the weekly timeframe, we observe a bullish divergence on the RSI indicator. This suggests a potential upward movement for EGLDUSDT in the coming months, signaling a possible shift in market sentiment.
📊 It's important to consider previous support and resistance zones. Based on these levels, we can identify potential target zones for bullish momentum. The blue box on the chart indicates a target range of $54-64, while the red box represents a target range of $80-99. However, we believe that reaching the red box target has a lower probability, so take that into account when planning your trades.
💡 As always, it's crucial to stay updated on market developments, monitor price action, and employ proper risk management techniques. Set stop-loss orders and adjust your trading strategies accordingly.
🔍 Feel free to explore our resources to enhance your trading skills:
Education articles
📚📈 Curious about Bullish Divergence? Dive into our comprehensive article for a deeper understanding of this powerful indicator and how it relates to EGLDUSDT's current situation! 🚀📈
Read the Article Here ➡️
Happy trading! 💰🚀
🚀 Today, EGLDUSDT finds itself in a relatively low position after experiencing a massive crash from its all-time high (ATH) at $544. The price has plummeted by nearly 95% to the $30-35 zone, where it currently resides.
🔍 When examining the weekly timeframe, we observe a bullish divergence on the RSI indicator. This suggests a potential upward movement for EGLDUSDT in the coming months, signaling a possible shift in market sentiment.
📊 It's important to consider previous support and resistance zones. Based on these levels, we can identify potential target zones for bullish momentum. The blue box on the chart indicates a target range of $54-64, while the red box represents a target range of $80-99. However, we believe that reaching the red box target has a lower probability, so take that into account when planning your trades.
💡 As always, it's crucial to stay updated on market developments, monitor price action, and employ proper risk management techniques. Set stop-loss orders and adjust your trading strategies accordingly.
🔍 Feel free to explore our resources to enhance your trading skills:
Education articles
📚📈 Curious about Bullish Divergence? Dive into our comprehensive article for a deeper understanding of this powerful indicator and how it relates to EGLDUSDT's current situation! 🚀📈
Read the Article Here ➡️
Happy trading! 💰🚀
💡 Elevate Your Trading Game! Join Vestinda's Vibrant Discord Community💬
📈 Discover insights, share strategies, and connect with fellow traders. Click to join: bit.ly/3rmVr9b 💜💜💜
📈 Discover insights, share strategies, and connect with fellow traders. Click to join: bit.ly/3rmVr9b 💜💜💜