EGLD Price Analysis: Cardano Competitor on the Verge of Bullish Breakout at $80
EGLD Price Analysis: Cardano Rival Signals Bullish Move Towards $80 Resistance
Although many assets in the cryptocurrency market are starting to reverse the gains attained in the last several weeks, some of the previously dormant cryptos, including the Cardano (ADA) competitor MultiversX (EGLD), are showing signs of 'waking up' and possibly breaking through critical levels.
EGLD price prediction
As the crypto expert further explained, the native token of the blockchain protocol, which offers true horizontal scalability by using all aspects of sharding, currently ranks tenth in total value locked (TVL) and is looking at a lot more updates coming to its ecosystem.
- Currently facing crucial resistance towards $80
- Potential target set at $148.54
EGLD price analysis
Meanwhile, EGLD price at press time stood at $67.49, reflecting bearish sentiment shift in the wider crypto sector. However, the token is still holding onto weekly and monthly gains amidst market fluctuations.
Decentralized Trading of Derivatives on MultiversX
Recently launched decentralized derivatives trading on MultiversX aims to enhance trading strategies, asset exposure hedging, and increase liquidity on-chain.
All things considered, EGLD price might experience positive movement following expert analysis and network developments, necessitating cautious observation and research.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.