Elrond (EGLD) Price May Break Past $56 Hurdle – Here’s How

Elrond, together with Polygon and Uniswap, were the three altcoins mentioned in a recent news report by CNBC to watch out for this month as they managed to tally significant gains despite the continued grip of bears in the crypto market. Elrond is currently in a bullish pattern, ready to test the $57.7 resistance marker EGLD could go as high as $67.5 if its bull momentum continues Experts predict the asset ending the year with price closer to its November 2021 ATH Elrond has successfully increased its September 28 price of $45.43 by 10% to trade at $55.65. But the blockchain token improved its performance, painting its chart in green except for its year-to-date price which remained in red, much like the rest of the crypto space. At press time, according to data from Coingecko, the altcoin is trading at $56.50 and is up by 3.9% for the past 24 hours and by 4.8% over the last week. Its 14 and 30-days gains are also impressive, currently standing at 17.8% and 16.2%, respectively. More Good News For Elrond Elrond fell victim to a massive price correction over the past weeks, helplessly going down by as much as 32%. But the asset’s current technical analysis chart shows its price is caught in a cup and handle pattern which in crypto space signals recovery. Related Reading: Cardano (ADA) Sheds 15% Of Value In Last 7 Days – When Will The Pain Stop? Source: TradingView The recovery happened but was short-lived and stopped at $57.5. In...