Elrond

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The price of Elrond (EGLD) has shown little relief bounce against Tether as it continues to range in its bearish flag pattern. Although relief bounces are shown by other cryptocurrencies across the market, with some double-digit gains, Elrond’s price has struggled to crack those gains. (Data from Binance)

Elrond Price Analysis On The Weekly Chart
Weekly EGLD Price Chart | Source: EGLDUSDT On Tradingview.com
From the chart, the price of Elrond saw its weekly bottom at $40, and the price of EGLD bounced from that region to a price of $57 on the weekly chart as the price is unable to show much strength to trend higher.
EGLD weekly candle closed with a bearish sentiment, with the new week’s candle looking indecisive. 
The price has continued to show little or no traction; If the price of EGLD on the weekly chart maintains this structure, it could retest its low of $52 as this is the trendline support region on the weekly chart.
For the price of EGLD to trend higher, it needs to break the resistance at $60 with a good volume to have a go at higher prices and double gains.
Weekly resistance for the price of EGLD – $60.
Weekly support for the price of EGLD – $52.
Price Analysis Of EGLD On The Daily (1D) Chart
Daily EGLD Price Chart | Source: EGLDUSDT On Tradingview.com
The price of EGLD has found itself ranging in a bearish flag channel, trying to break out from what looks like a cage preventing the price from trending higher. 
EGLD has found its price ranging between $52, acting as support, and $70 acting as the resistance for the price of EGLD. The price of EGLD needs to break out of this range and close above the $70 mark to trend higher to a region of $80.
With more buy orders and volume, we could see EGLD retesting the upper range of $70 if the price fails to break out, going a retest of trendline support at $52 and lower if there is a market sell-off.
EGLD is currently trading at $56, just below the 50 and 200 Exponential Moving Average (EMA), which corresponds to prices of $65 and $101, acting as resistances for EGLD price.
On the daily chart, the Relative Strength Index (RSI) for the price of EGLD is below 40, indicating a low volume of buy orders.
Daily (1D) resistance for EGLD price – $60-$70.
Daily (1D) support for EGLD price – $52.
Price Analysis Of EGLD On The Four-Hourly (4H) Chart
Four-Hourly EGLD Price Chart | Source: EGLDUSDT On Tradingview.com
The price of EGLD has shown a little bullish trend below the 200 EMA price, which correspond to $58, acting as resistance to the EGLD price.
EGLD needs to break and hold above the 200 EMA to assume its bullish sentiment; if EGLD fails to break and hold above, we could see the price retesting its support levels at $52. 
Four-Hourly (4H) resistance for EGLD price – $60-$70.
Four-Hourly (4H) support for EGLD price – $52.

Featured Image From zipmex, Charts From TradingView.com 
 


The price of Elrond (EGLD) has shown little relief bounce against Tether as it continues to range in its bearish flag pattern. Although relief bounces are shown by other cryptocurrencies across the market, with some double-digit gains, Elrond&#8217;s price has struggled to crack those gains. (Dat...

newsbtc.com

Elrond (EGLD) Builds Bearish Sentiment, Will Price Coil Up To 80 Instead?

EGLD, Elrond Network’s native coin, was able to break free from a falling wedge pattern during an uptrend seen on August 20.
According to CoinMarketCap, EGLD is up by 0.77% or trading at $53.58 as of this writing.
It can be remembered that EGLD had a stirring bull run last month that has propelled the coin to a spike of 16%. However, since then, the coin has had a massive double-digit decline this August.
EGLD apparently treads the same direction with major crypto Bitcoin that has experienced the extreme downswing that affected the crypto market this month.
An extrication spotted at a falling wedge usually ticks a spike in price. However, is this surefire sign to go all-in for EGLD?

EGLD Hints At Potential Downtrend
On the daily graph, EGLD’s key indicator shows that the trading momentum is routed in such a way that dispels the belief of a potential bullish reversal.
RSI for EGLD looks bleak as it is positioned at 39 or under the 50-neutral region. 
More so, the coin’s MFI is set at 35 hinting a downtrend. The CMF dynamic line is also at -0.09 or set under the central line (0.) which implies a disturbing plunge in terms of pressure on the price of EGLD. 
The downtrend is further validated by the coin’s MACD positioning which is composed mainly of red histogram bars. 
Since August 15, the MACD line is spotted crisscrossed with the trend line in a downturn. 
This strongly indicates the increase in EGLD selling pressure seen in the past couple of days.

Elrond Down In Social Metrics
Since early August, EGLD doesn’t seem to climb significantly in terms of social metrics. 
While EGLD did jump to a social high of 0.144% on August 9, it nosedived real quickly by 86%. 
Some 13.35 million EGLD coins were staked on Elrond in the past week. The week before that, 13.33 million EGLD coins were staked.
More so, Maiar Exchange was able to record a 13% decline in TVL the past week. There were no important updates implemented on the network.
As of press time, EGLD’s social dominance is at 0.019% which shows an 86% drop compared to its high seen on August 8.
Since there have been no major updates to the network’s ecology in recent months, progression has been nosediving for several months.
Elrond Network has processed 55.29 million transactions over the past few days, a 5% decrease over the 54.73 million transactions processed over the last week.
 

Crypto total market cap at $1 trillion on the daily chart | Source: TradingView.com

Featured image from Somag News, chart from TradingView.com


EGLD, Elrond Network’s native coin, was able to break free from a falling wedge pattern during an uptrend seen on August 20. According to CoinMarketCap, EGLD is up by 0.77% or trading at $53.58 as of this writing. It can be remembered that EGLD had a stirring bull run last month that has propelle...

Elrond Network Watch: Consider This Before Filling Up Your Wallet With EGLD

A popular analyst is digging into the charts to update his price targets for a handful of leading crypto assets.
Michaël van de Poppe first tells his 622,600 Twitter followers that he’s keeping a close eye on support levels for scalability and interoperability ecosystem Cosmos (ATOM), which recently gave up gains from the latest leg of an extended rally dating back to mid-June.

“At massive levels of support here, which is reasonable for long entries.
If this one is lost, I’m looking at $8 next.
Holding here = potential trigger towards $18-20 in the coming month.”
Source: Michaël van de Poppe/Twitter
At time of writing, Cosmos is down 8.59% over the past 24 hours and priced at $10.83.
Moving on to crypto lending and borrowing protocol Aave (AAVE), the crypto strategist says that in light of the recent marketwide corrective, he sees the altcoin as a candidate for range trading with support at $80 and resistance at $103.
“This one is trending down as the entire market is correcting.
Fake-out above resistance and drop beneath $103 caused an acceleration of the correction.
Looking at $80-82 for support. Looking at $103 for crucial resistance. Range-bound plays.”
Source: Michaël van de Poppe/Twitter
Aave has been sliding into the red all week, currently down nearly 15% on the day and trading for $84.31.
Also on Van de Poppe’s watchlist is enterprise-grade blockchain platform Elrond (EGLD), which has been steadily dropping since August 10th. The analyst is setting two levels of support: one at $50 and then $44 if the first capitulates.
“An important level of support and confluence on multiple timeframes.
Gap has been filled, which was practically the last one. Arguments for a bottom around the markets could be there.
Resistance at $57. Break there = new highs. Support: $50 and $44.”
Source: Michaël van de Poppe/Twitter
Elrond is down 8.79% and changing hands for $52.37. The altcoin was trading above $69 just a week ago.
Regarding cross-chain interoperability protocol Polkadot (DOT), the crypto analyst thinks that a rally to $8.40 is possible if $7.70 is recaptured. However, Van de Poppe cautions about the potential for DOT to lose support at $7.
“Looking for a trigger on this one if we reclaim $7.70, as then a retest at $8.40 is likely.
Otherwise, the patience game happens, and you’ll have to see whether sub-$7 is a trigger for longs.”
Source: Michaël van de Poppe/Twitter
Polkadot’s price mirrors the overall crypto market slump to end the week, with DOT currently in the red by nearly 12.5% and valued at $7.35.
Last on Van de Poppe’s radar is EOS (EOS), an open-source and decentralized platform whose smart contract capabilities make it a direct competitor to Ethereum (ETH).
In response to the altcoin’s mid-week rally in defiance of broader market trends which was soon followed by a sharp corrective move, the trader advises his followers to not go running after coins that are already pumping.
“Looking at the structure, you should learn a lesson from this recent move of EOS. Avoid chasing pumps!
In this case, I’d be looking at confirmation if we dip to $1.18 and reclaim $1.30 afterward for longs. The same goes for reclaiming the $1.40 area.”
Source: Michaël van de Poppe/Twitter
Back on Tuesday, EOS leaped by 27.9% from $1.29 to $1.65, but has since worked its way back down. At time of writing, EOS is down 16.24% and changing hands for $1.27.
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Generated Image: StableDiffusion
The post Crypto Analyst Michaël van de Poppe Outlines What’s Next for Cosmos, Aave, Elrond and Two Ethereum Rivals appeared first on The Daily Hodl.


A popular analyst is digging into the charts to update his price targets for a handful of leading crypto assets. Michaël van de Poppe first tells his 622,600 Twitter followers that he’s keeping a close eye on support levels for scalability and interoperability ecosystem Cosmos (ATOM), which recen...

dailyhodl.com

Crypto Analyst Michaël van de Poppe Outlines What’s Next for Cosmos, Aave, Elrond and Two Ethereum Rivals


This year has brought many upheavals in the crypto market. Starting from January 2022, the market began to go downhill, the fall became steeper around April and May, and the crypto arena plummeted by the end of July. Several cryptocurrencies lost their ground during this period, and their value plummeted severely.



However, from the end of July, the market has shown signs of revival, and so do many cryptos. Two notable cryptos here are Elrond (EGLD) and Tezos (XTZ). Following the market’s revival, these cryptos have also registered a phase of upward movement.



Meanwhile, the market has found a sigh of relief and is cherishing the success of Chronoly.io during these trying times. Chronoly.io is the new entrant in the market that has posted a growth of over 560% during its presale phase.



Tezos (XTZ) Begins to Move Upwards After Months



Tezos (XTZ) has been moving upward over the last week. Currently, it is trading at $1.94. However, its current price is still below the coin’s all-time high of $9.12.



Some time back, Tezos (XTZ) was one of the favorites of crypto investors. However, the network has been falling lately.



Tezos (XTZ) network is touted for introducing a system of self-governance. Tezos (XTZ) also allows peer-to-peer transactions, trading of assets, developing applications, and creating smart contracts like most other crypto projects. However, Tezos (XTZ) is considered distinct because it has projected itself as a platform with self-amendment and on-chain governance.



Self-amendment and on-chain governance mean that anyone who owns XTZ crypto can introduce and vote on changes to the network’s rules. This is different from other projects where control remains with the developers or the major stakeholders.



Elrond (EGLD) Indicates End of Sluggishness



The price of Elrond’s EGLD has been rising for the last few weeks. In July, Elrond’s EGLD recorded a growth of around 17%. The price of EGLD has recorded an uptick.



Elrond (EGLD) entered the crypto market as competition to Ethereum. It is a layer-one blockchain protocol. Elrond has established itself as a leading smart contracts network for dApps developers as it promises to offer a cheaper and faster environment to the developers. EGLD is used as the native token of the Elrond network. Elrond uses the proof-of-stake (PoS) protocol. Besides, it allows investors to stake their EGLD tokens.



Given that the overall crypto market has shown some signs of revival, analysts expect that EGLD can rise further, supported by the bullish sentiments. Currently, Elrond’s EGLD is trading around $67.



Chronoly.io Demand Increases Further



Chronoly.io‘s run on the crypto market has been the dream for many projects. The pre-sale of Chronoly’s CRNO token has been recorded as one of the most successful pre-sales in the crypto market. Chronoly’s CRNO token has risen by 560% since its launch in May 2022.



Chronoly.io platform lets people make fractional investments in NFTs of luxury watches from multinational luxury brands. Chronoly.io procures a physical version of the watch and mint NFTs against them. Hence, there is a surety for the project’s stability and profitability since it is backed by real-world assets.



The project’s whitepaper also underlined that the luxury watch market is valued at $49 billion and lacks innovation. The value of luxury watches generally increases in value over time as they are uncorrelated to the stock markets or impacted by market sentiments.



Due to its unique features, tangible utility, and real-world asset backing, the value of Chronoly’s CRNO has gone ballistic, with more than 560% growth in a couple of months. CRNO’s current price has propelled to $0.066 from the launch price of just $0.01. Analysts have also made a prediction that CRNO can rise by over 3000% over the next two months alone.



For more information about Chronoly.io presale:



Website | Telegram | Twitter | Presale
The post Elrond (EGLD), Tezos (XTZ) Show Signs of Revival While Chronoly Grows By 560% appeared first on BeInCrypto.


This year has brought many upheavals in the crypto market. Starting from January 2022, the market began to go downhill, the fall became steeper around April and May, and the crypto arena plummeted by the end of July. Several cryptocurrencies lost their ground during this period, and their value p...

Elrond price	$46.39
Low - High 24H	$45.91 - $48.64
Market cap	$1.07B
Volume 24H	$26.69M
All time high	$545.64 -91.54% November 23rd 2021
All time low	$6.51 609.35% October 7th 2020
Genesis date	N/A

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