Eleven weeks of continuous fall is a record for the EGLD cryptocurrency. Until April 2022, there were no such trading situations on the EGLD chart. With this fall, sellers reached the update of local lows from May 2021. The highest trading volumes during the last fall wave were recorded on the weekly candles of 9 May and 13 June. In the first case, the increased volumes were due to the test of the range of local lows in May 2021. In the second case, the increased volumes were formed by triggering stop orders of buyers who stopped believing in the future growth of EGLD. Source: https://www.tradingview.com/x/8QzA1axy/ At the time of writing, the $65.29 mark is under the control of sellers. This is the main liquidity level, which buyers can take again to plan the growth of EGLD. However, if during the week of 20 June, buyers are unable to break and fix above the $65.29 mark, the EGLD fall will continue. In this case, the next immediate target is $34. Though, given the uncorrected fall wave of April 2022, we expect buyers to return the mark of $65.29 and continue the correction up to $125. It is from this mark that a new fall wave is likely to begin. EGLD Technical Analysis on The Daily Timeframe Source: https://www.tradingview.com/x/lVtYJiIs/ Analyzing the movement of EGLD price on the daily timeframe, we can see that the price rebound is formed in a sloping growth channel. Although the trading volumes during the local growth of ...
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