The post EGLD Price Reaches $70; What’s Fueling the Rally in MultiversX? appeared on BitcoinEthereumNews.com.

EGLD price prediction favors the bulls and suggests the positive momentum may continue in coming months. It rose 60% in December and momentum is still intact displays the strength of bulls.  MultiversX price is rising upward by forming higher high swings which showcases the presence of buyers at the lower level. Recently, it broke out of the $54.00 swing high hurdle which triggered the positive sentiment and fueled the rally.  The EMAs are sloping upward and price sustaining above it denotes that the trend is in upward direction. However, the price went far away from the EMA due to which short term retracement is also possible.  In the last two months, EGLD token has performed well and generated nominal return for its long term investors. The chart pattern indicates that the rally has just begun and more scope for the upside is open.  The recent rally is supported by more than average volume. It denotes that some genuine buyers had taken longs and added this token in their portfolio.  Currently, MultiversX price is trading at $69.53 with a one day uptick of 6.14%. In the last 24 hours, the trading volume increased by 324% showing the strength in the recent move. Will EGLD Price Hit $80 by January 2024 End? EGLD price hits a high at $75.59 in the current trading session. However, the price witnessed minor profit booking so it returned back toward $70.00.  Buyers look very aggressive and active in the range between $60.00 to $65.00. This range is likely to act as a demand zone in upcoming sessions.  If the MultiversX price retest the $65.00 support then buyers may come forward and show a bounce. So, it is better to play bullish bets in EGLD and stay with the trend.  The analysis suggests, if buyers succeed to…

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Filed under: News - @ December 24, 2023 8:14 pm