$EGLD

Strong rise for the #EGLD currency… Are we facing a new launch?

The #EGLDUSDT currency has witnessed a remarkable increase during today's trading, after the price rose to around 8.17 USDT, achieving an increase of approximately +13.95%. This rapid rise $BNB reflects the entry of new liquidity into the currency and the return of interest from traders after a period of horizontal movement.

Technical data show that EGLD broke the resistance area around 7.6–7.8, which opened the way for the current rise. The sudden increase in one of the candles also indicates institutional buying or a huge deal that pushed the price up quickly.

If the price stabilizes above the 8.00 USDT level, we may witness the continuation of upward momentum, while the nearest support remains at 7.5, which is considered an important monitoring level for traders.

The market currently supports positive movements, and EGLD may be one of the currencies benefiting from the current wave of liquidity.