$EGLD /USDT UNDER HEAVY PRESSURE – BEARS TARGET LOWER SUPPORTS
$EGLD is showing clear bearish dominance after failing to hold above key intraday resistance and printing consecutive lower highs. Volume is declining on bounces, indicating weak buyer interest, while sellers continue to control momentum. Unless price reclaims critical resistance, downside continuation remains the higher-probability move.
TRADE SETUP
Entry Zone: 6.10 – 6.25
Take Profit 1: 5.90
Take Profit 2: 5.70
Take Profit 3: 5.40
Stop Loss: 6.55
MARKET OUTLOOK
Momentum is bearish across lower timeframes with price trading below key moving averages. Trend structure favors continuation to the downside as long as EGLD remains capped below the 6.40–6.55 supply zone. A clean break below 5.70 would open the door for accelerated selling pressure.
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