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EGLD /USDT ANALYSIS 1. Descending Triangle Pattern: 🔹A descending triangle is a bearish continuation pattern, but when broken to the upside, it can signal a trend reversal or the start of a bullish movement. 🔹Breakout: In this case, EGLD has broken out of the descending triangle. This suggests that the downward pressure has been overcome, and the buyers are gaining control. 2. Testing Above the Pattern: 🔹The phrase "testing above it" means the price has moved above the triangle's resistance line (the top boundary of the pattern) but is currently retesting that level. This is typical after a breakout, as the price often revisits the breakout level to confirm support before continuing higher. 🔹If EGLD holds above this level, it strengthens the likelihood of sustained upward momentum. 3. Moving Averages (21MA and 50MA): 🔹21MA: The 21-period moving average is a short-term trend indicator. 🔹50MA: The 50-period moving average is a medium-term trend indicator. 🔹Both showing bullish strength means the shorter-term moving average is above or aligning bullishly with the medium-term one , confirming upward momentum in the market. 4. Ichimoku Cloud : 🔹The Ichimoku Cloud (Kumo) acts as a dynamic support or resistance zone. 🔹In this scenario, the cloud is positioned above the price, acting as a resistance barrier. For the bullish rally to strengthen, EGLD needs to break through this resistance zone. 5. Potential Outcome: 🔹A successful retest above the triangle breakout level would confirm buyer strength and could mark the start of a bullish rally. 🔹Conversely, if the price fails to hold above the breakout level, it could signal a false breakout, leading to renewed bearish pressure. $EGLD

$EGLD /USDT ANALYSIS $EGLD has broken out of the descending triangle pattern and is currently testing above it. The 21MA and 50MA are indicating bullish strength, while the Ichimoku Cloud is acting as a resistance barrier. A successful test above the pattern could confirm the beginning of a bullish rally. $EGLD

$EGLD Falling Wedge Breakout is Done & Retesting is in Process✅ Expecting Bullish Wave📈

Making money will be simple with $EGLD First, $73 dollar target, pullback then $200. Count the folds, make use of your calculator, and get back to me😉 You are welcome to share my post for others to benefit! #EGLD