$EGLD 🦅EGLD/USDT Analysis
💥Personal Opinion🦅
EGLD's sharp decline creates a cautious trading environment 🛑. While the current price could attract dip-buyers, it's essential to observe broader market sentiment 🌐 before entering. Staying on the sidelines or adopting a tight risk management strategy is advisable for now 🎯.
Market Sentiment
The sentiment for EGLD is bearish 📉 as the price has dropped significantly by 12.42% in the last 24 hours. It is testing the $32.43 support zone, which could act as a key level for a potential bounce or further decline.
EGLD is under selling pressure 🚩, primarily due to the lack of strong bullish momentum and broader market weakness. The $32.43 support level might offer a short-term rebound opportunity, but if broken, the next target could be $30.50.
Conversely, a recovery above $34.60 would signal renewed buying interest, making $36.50 and $37.75 potential targets.
🦅
Entry: Around $32.50 - $32.80 if support holds.
Targets:
Target 1: $34.60
Target 2: $36.50
Stop-Loss: $31.90
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