ELROND Price Chart
Among the cryptocurrencies that have achieved the best performance, EGLD is perhaps one of the most unexpected for many. The asset is not directly related to the king of the market – Bitcoin and is not the most publicized digital asset. But for those in the know, Elrond price charts have been around since 2020.
Can EGLD reach $400 in 2022? We will know about it soon. But before we go directly to the Elrond price prediction, let’s first see what is the EGLD to USD price today.
What’s the Elrond price now?
As of this writing, the Elrond coin price chart is trading at $52.71 on a 24-hour trading volume of $56,953,848. EGLD is up 0.51% in the last 24 hours.
Elrond’s economic model has a limited supply starting at 20,000,000 EGLD, subject to newly issued tokens to reward network validators. The maximum offer cannot exceed 31,415,926 EGLD, but this figure will decrease as more transactions are processed.
For traders and investors interested in the Elrond price charts, this altcoin is traded on exchanges such as:
Analysis of the Elrond token price
At the time of this writing, Elrond is ranked 41st by CoinMarketCap. Will updates, Elrond coin news, developments, and changes in the blockchain help this asset grow in value?
Based on the chart above, Elrond is positioning itself along with the raging bulls. Today, EGLD is trading at $53, up 36% over the past 7 days.
In addition, we see that the Elrond coin price chart has completed an Up Channel pattern recently.
The Relative Strength Index (RSI) is close to 80, which means that it is in a near overbought state. This means that an EGLD USD price reversal is possible at any time.
Since the beginning of 2021, the Elrond token price has undergone many bearish moves that have been lower than the previous ones. In addition, they were immediately followed by fluctuations, consolidation, and correction. With this in mind, EGLD will have a competitive market in 2022.
Elrond price prediction
The Elrond coin news indicate that the altcoin has shown a sharp decrease over the past few weeks.
However, it seems like the crypto market has bounced from the resistance level and the Elrond price now is only growing. If this trend continues, EGLD may follow the bulls, breaking its $105 resistance level and rising higher.
Conversely, if investors lose interest in the asset, the bears can take over and dethrone EGLD from its uptrend position. Simply put, the EGLD to USD price could drop to almost $35-20, which is a bearish signal.
Meanwhile, our long-term EGLD USD price forecast for 2022 is quite optimistic. The asset has a high probability of surpassing this year’s peak at around $266.76. However, this can only happen if the asset breaks previous psychological resistances.