$EGLD /USDT Technical Analysis $EGLD

Current Price: 6.02 USDT

24h Change: -5.05% (Bearish pressure)

24h High: 6.41

24h Low: 5.95

24h Volume: Moderate (not panic selling)

🔍 Market Structure

Price rejected from 6.40–6.44 resistance

Now trading near daily low

Short-term trend: bearish / pullback phase

Overall move looks like a correction, not a crash

📈 Indicator-Based View

❌ Moving Averages (MA / EMA)

Price is below short-term EMA

EMA crossing down → short-term weakness

If price stays below 6.10, selling pressure continues

⚠️ Volume (VOL)

No extreme volume spike

Indicates controlled selling, not fear-based dump

📉 MACD (Likely)

MACD probably below signal line

Momentum is weak, but slowing → potential bounce zone

🧱 Key Support & Resistance Levels

🟢 Support Zones (Buy Interest)

6.00 – 5.95 → strong intraday support

5.92 → last support before deeper drop

If this breaks → next support near 5.70

🔴 Resistance Zones (Sell Pressure)

6.13 – 6.23

6.33

Strong resistance: 6.40 – 6.44

🧠 Smart Trading Scenarios

🟢 Scenario 1: Support Bounce (Best Case)

Price holds above 5.95–6.00

Small bounce toward 6.20–6.30

Safe for short-term scalp, not long hold

🔴 Scenario 2: Support Breakdown

If 5.95 breaks with volume

Expect move to 5.70–5.80

Avoid buying until new base forms

🟡 Scenario 3: Range Trading

Price may range between 5.95 – 6.25

Suitable for experienced scalpers only

⚠️ Risk Warning

Buying during red candles is risky

Wait for:

Support confirmation

Volume stabilization

15m or 1h candle close above 6.05

✅ Simple Conclusion

Trend: Short-term bearish (pullback)

Best zone to watch: 5.95 – 6.00

Avoid FOMO buys

Safer entries come after confirmation

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EGLD

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