Elrond Coin Looks To Breach $55 Resistance – Is $65 Hittable This Month?

Elrond was rising before leveling off at around $54.40. The EGL price has recently broken through a key price resistance level, rising above $56.37. On weekly, biweekly, and monthly time frames, Elrond has been performing bullishly, based on data by Coingecko, Thursday. This bullish movement may have been prompted by recent events. On September 22nd, Opera users who have enabled the built-in crypto wallet will be able to utilize EGLD. The market may react to these events by increasing the price. But will EGLD’s price be able to continue to push above the $55 barrier – or will that level finally prove to be too much to overcome? Bulls are eyeing the $65 mark, but even that proves to be a major challenge. Related Reading: Monero Coin Climbs 6% In Last 3 Days – Bullish Activities Seen For XMR A Clue To The Puzzle That Is Elrond The token is trading at $56.19, which is a loss as of this writing. The recent market action has established a bullish cup and handle pattern, which should help push prices through the $57.84 barrier, data from Coingecko show. At the time of writing, both the RSI and Chaikin’s money flow index show bullish convergence, which is excellent news for the altcoin as a whole. The momentum indicator, however, shows that bullish enthusiasm is losing steam. Despite the construction of a cup and handle, this may be a negative indication for the market. The 50-day and 100-day simple moving averages ...