🚨 $EGLD AT CRITICAL LEVELS – ACT NOW! 🚨

EGLD/USDT Technical Analysis Report (1-Hour Chart)

Overview:

The EGLD/USDT pair has demonstrated strong bullish momentum on the 1-hour chart, with a significant 16.89% increase in price over the past 24 hours. The price surged from the 24-hour low of $29.21 to a high of $35.89, currently trading at $35.29. The chart shows a breakout above critical resistance, supported by increased volume.

Indicators:

RSI (6): Currently at 69.03, indicating that the asset is approaching overbought conditions but still has room for upward movement.

Key Moving Average: The yellow moving average line supports the bullish trend, with price action consistently closing above it.

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Resistance & Support Levels:

1. Resistance (White):

Immediate: $35.89

Strong: $36.50

2. Support (Green):

Immediate: $33.77

Strong: $31.33

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Trade Signals:

Long Trade Setup:

Entry: $35.20-$35.30 (current range)

Take-Profit Targets:

1. TP1: $36.00

2. TP2: $36.50

3. TP3: $38.00

Stop Loss: $33.50 (below immediate support)

Risk Level: Moderate (monitor resistance at $35.89 for breakout)

Short Trade Setup:

Entry: $35.00-$35.50 (if rejected at resistance)

Take-Profit Targets:

1. TP1: $33.77

2. TP2: $32.50

3. TP3: $31.33

Stop Loss: $36.00 (above resistance breakout)

Risk Level: High (consider only if momentum fades)

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Trading Insights:

Bullish Signal: Price consistently closing above the moving average. Strong upward momentum driven by high trading volume.

Bearish Risks: A failure to break $35.89 could lead to short-term consolidation or correction.

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