Elrond (EGLD) Price Prediction 2022 — Will EGLD Hit $55 Soon?
- Bullish EGLD price prediction is $65.73 to $353.12.
- Elrond (EGLD) price might also reach $55 soon.
- Bearish EGLD price prediction for 2022 is $39.48.
In Elrond (EGLD) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about EGLD to analyze the future movement of the cryptocurrency.
Elrond (EGLD) Current Market Status
According to CoinGecko, the price of Elrond (EGLD) is $49.42 with a 24-hour trading volume of $30,650,641 at the time of writing. However, EGLD has increased by nearly 3.2% in the last 24 hours.
Moreover, Elrond (EGLD) has a circulating supply of 23,046,961 EGLD. Currently, Elrond (EGLD) trades in cryptocurrency exchanges such as Binance, DigiFinex, OKX, KuCoin, Huobi Global and LBank.
What is Elrond (EGLD)?
Elrond is a piece of software that aims to incentivize a distributed network of computers to run a smart contract platform with a focus on scalability and low transaction fees. It was founded in 2017 and is supported by Elrond Network, a Malta-based company dedicated to the project’s growth.
Elrond is powered by its own cryptocurrency, EGLD coin, which is used to interact with applications, send transactions, and incentivize network actors. It employs two distinct features: Adaptive State Sharding and Secure Proof-of-Stake (SPoS).
Elrond (EGLD) Price Prediction 2022
Elrond (EGLD) holds the 48th position on CoinGecko right now. EGLD price prediction 2022 is explained below with a daily time frame.
The above chart of Elrond (EGLD) laid out the horizontal channel pattern, also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
Currently, Elrond (EGLD) is in the range of $48.71. If the pattern continues, the price of EGLD might reach the resistance levels of $49.16, and $54.72. If the trend reverses, then the price of EGLD may fall to $47.33 and $45.58.
Elrond (EGLD) Support and Resistance Levels
The chart below shows the support and resistance levels of Elrond (EGLD).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Elrond (EGLD).
| Resistance Level 1 | $65.73 |
| Resistance Level 2 | $113.97 |
| Resistance Level 3 | $216.00 |
| Resistance Level 4 | $353.12 |
| Support Level | $39.48 |
The charts show that Elrond (EGLD) has performed a bullish trend over the past month. If this trend continues, EGLD might run along with the bulls overtaking its resistance level at $353.12.
Accordingly, if the investors turn against crypto, the price of Elrond (EGLD) might plummet to almost $39.48, a bearish signal.
Elrond (EGLD) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Elrond (EGLD) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of EGLD lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Elrond (EGLD) is shown in the chart above. Notably, the Elrond (EGLD) price lies below 50 MA (short-term), so it is in a downtrend. Currently, EGLD has entered a bearish state. Therefore, there is a possibility of a reversal trend of EGLD at any time.
Meanwhile, the relative strength index (RSI) of the EGLD is 49.32. This means that Elrond (EGLD) is in an oversold state. However, this means a major price reversal of EGLD may occur in the upcoming days. So, traders need to trade carefully.
Elrond (EGLD) Price Prediction 2022 — ADX, RVI
Let us now look Average Directional Index (ADX) of Elrond (EGLD). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Elrond (EGLD). Currently, the ADX of EGLD lies in the range of 25.95 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Elrond (EGLD). RVI measures the constant deviation of price changes over a period of time. The RVI of EGLD lies above 50, indicating high volatility. In fact, the RSI of Elrond (EGLD) is at 49.32 thus confirming a potential buy signal.
Comparison of EGLD with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Elrond (EGLD).
From the above chart, we can interpret the price changes of BTC, ETH and EGLD are moving in a similar trend. This indicates that when the price of ETH and BTC increases or decreases, the price of EGLD also increases or decreases respectively.
Elrond (EGLD) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Elrond (EGLD) might probably attain $60 by 2023.
Elrond (EGLD) Price Prediction 2024
With several upgrades in the network, Elrond (EGLD) might enter a bullish trajectory. If the coin grabs the attention of major investors, EGLD might rally to hit $65 by 2024.
Elrond (EGLD) Price Prediction 2025
If Elrond (EGLD) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, EGLD would rally to hit $70.
Elrond (EGLD) Price Prediction 2026
If Elrond (EGLD) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, EGLD would rally to hit $75.
Elrond (EGLD) Price Prediction 2027
If Elrond (EGLD) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, EGLD would rally to hit $80.
Elrond (EGLD) Price Prediction 2028
If Elrond (EGLD) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, EGLD would hit $85 in 2028.
Elrond (EGLD) Price Prediction 2029
If investors flock in and continue to place their bets on Elrond (EGLD), it would witness major spikes. EGLD might hit $90 by 2029.
Elrond (EGLD) Price Prediction 2030
With greater advancements in the Elrond ecosystem, the crypto community might continue to invest in EGLD for the next 8 years and drive significant price rallies for the token. Hence, Elrond (EGLD) might hit $95 by 2030.
Conclusion
With continuous improvements in the Elrond network, we can say that 2022 is a good year for EGLD. For this reason, the bullish price prediction of Elrond (EGLD) in 2022 is $353.12. On the other hand, the bearish price prediction of Elrond (EGLD) price prediction for 2022 is $39.48.
Furthermore, with the advancements and upgrades to the Elrond ecosystem, the performance of EGLD would help to reach above its current all-time high (ATH) of $545.64 very soon. But, it might also reach $55 if the investors believe that EGLD is a good investment in 2022.
FAQ
Elrond is a piece of software that aims to incentivize a distributed network of computers to run a smart contract platform with a focus on scalability and low transaction fees.
Elrond (EGLD) has been listed on many crypto exchanges which include Binance, DigiFinex, OKX, KuCoin, Huobi Global and LBank.
With the ongoing developments and upgrades within the Elrond platform, EGLD has a high possibility of reaching its ATH soon.
On November 23, 2021 Elrond (EGLD) reached its new all-time high (ATH) of $545.64.
Elrond (EGLD) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Elrond in the past few months, EGLD is considered a good investment in 2022.
Elrond (EGLD) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Elrond (EGLD) will hit $55 soon.
Elrond (EGLD) price is expected to reach $60 by 2023
Elrond (EGLD) price is expected to reach $65 by 2024.
Elrond (EGLD) price is expected to reach $70 by 2025.
Elrond (EGLD) price is expected to reach $75 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
