For a long six months, we have not updated the forecast for the EGLD cryptocurrency. We published our previous forecast back in February with the final target for growth of $287. During this time, the EGLD cryptocurrency managed to correct and update its high. If you want to analyze the past forecast of the EGLD cryptocurrency, click on the picture below:
EGLD cryptocurrency is at a global critical point
Having stopped at our previous target of $287, the EGLD price is now preparing to start a correction. The main question is how deep this correction will be. If we look at the situation globally, we see two main scenarios of the EGLD price movement. The main critical point for these two scenarios is at $143. It is this mark that will determine whether the EGLD price will continue its growth wave or a long correction awaits us for the whole of 2022.
Two main scenarios of the EGLD price movement
1) Now the EGLD price has finally reached the target of $287 and even slightly higher, which was set back in February. However, it is alarming that in 3 months the EGLD value has grown 5.5 times, on tiny volumes. Therefore, we would like to see a 50% correction and super activity of buyers in the $140-175 zone. If this happens, then the path opens for anomalous targets $700-$950 for the Elrond eGold token.
2) Growth on low volumes prompted us to think that theoretically they can now form a “head” in the global “Head and Shoulders” reversal pattern. Moreover, the EGLD price now may even jump to $370, but such an increase will not bring anything good in the future. After all, the global target for fulfillment the Head and Shoulders figure is around $15.
Summurizing: two equivalent development scenarios appear on the chart: blue – strongly up, red. Therefore, it is important for long-term investors looking to buy EGLD not to rush. If you are interested in help in managing your deposit – join us and read the information on the link.