Elrond Price Prediction 2022 – Will EGLD Hit $550 Soon?
- Bullish EGLD price prediction is $312.04 to $540.
- The EGLD price might also reach $550.
- EGLD bearish market price prediction for 2022 is $59.61.
In Elrond’s (EGLD) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about EGLD to analyze the future movement of the cryptocurrency.
Elrond Current Market Status
According to CoinGecko, the price of EGLD is $200.46 with a 24-hour trading volume of $148,451,568 at the time of writing. However, EGLD has decreased nearly 1.9% in the last 24 hours.
Moreover, EGLD has a circulating supply of 20,382,414 EGLD. Currently, EGLD trades in cryptocurrency exchanges such as Binance, OKEx, Mandala Exchange, Huobi Global, and FTX.
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 holds the 44th position on CoinGecko right now. EGLD price prediction 2022 is explained below with a daily time frame.
A double bottom pattern describes the change in trend and the rapid change from the previous leading price action. This pattern looks like the letter “W”. A two-touch low is considered a support level.
Currently, EGLD is in the range of $200.74. If the pattern continues, the price of EGLD might reach the resistance level of $540. If the trend reverses, then the price of EGLD may fall to $101.72.
Elrond (EGLD) Support and Resistance Level
The below chart shows the support and resistance level of EGLD.
From the above daily time frame, it is clear the following are the resistance and support levels of EGLD.
- Resistance Level 1 – $312.04
- Resistance Level 2 – $490.49
- Support Level 1 – $182.17
- Support Level 2 – $101.72
- Support Level 3 – $59.6
The charts show that 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 $490.49.
Accordingly, if the investors turn against the crypto, the price of the EGLD might plummet to almost $59.6, a bearish signal.
Elrond Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of EGLD is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of EGLD lies below the cutoff line, indicating weaker participants in the current trend.
More so, the EGLD’s Moving Average (MA) is shown in the chart above. Currently, EGLD is in a bearish state. Notably, the EGLD price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of EGLD at any time.
Meanwhile, the relative strength index (RSI) of the EGLD is at level 37.20. This means that EGLD is in a nearly oversold state. However, this means a major price reversal of EGLD may occur in the upcoming days. So, traders need to trade carefully.
Elrond Price Prediction 2022 — ADX, RVI
Let us now look at Elrond’s Average Directional Index (ADX). 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. Currently, EGLD lies in the range of 20.39, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of EGLD. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of EGLD lies below the 50 levels, indicating that the direction of volatility is low. In fact, EGLD’s RSI is at 37.20 level thus confirming a potential sell signal.
Comparison of EGLD with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Elrond.
From the above chart, we can identify the trend of the BTC is moving at the downward trend. But, the recent trend of ETH and EGLD moves in an upward direction.
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 in 2022 is $540. On the other hand, the bearish EGLD price prediction for 2022 is $59.61.
Furthermore, with the advancements and upgrades on the EGLD ecosystem, the performance of EGLD would help to reach above its current all-time high (ATH) $312.04 very soon. But, it might also reach $550 if the investors believe that EGLD is a good investment in 2022.
FAQ
Elrond is a blockchain protocol that seeks to provide the fastest transaction speed using sharding.
EGLD has listed on many crypto exchanges which include Binance, OKEx, Mandala Exchange, Huobi Global, and FTX.
With the ongoing developments and upgrades within the EGLD platform, it has a high possibility of reaching its ATH soon.
On November 23, 2021, 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 EGLD 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 $550 soon.
Elrond (EGLD) price is expected to reach $600 by 2023.
Elrond (EGLD) price is expected to reach $660 by 2024.
Elrond (EGLD) price is expected to reach $720 by 2025.
Elrond (EGLD) price is expected to reach $800 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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