Technical analysis by TradingOn about Symbol EGLD: Buy recommendation (7/15/2024)

MultiversX (f.k.a. Elrond eGold) looks good for bullish continuation on daily after regaining 50MA support, road to 200MA resistance seems next.⚡️⚡️ #EGLD/USDT ⚡️⚡️Exchanges: ByBit USDTSignal Type: Regular (Long)Leverage: Isolated (2.0X)Amount: 5.0%Current Price:35.91Entry Targets:1) 34.56Take-Profit Targets:1) 48.29Stop Targets:1) 27.68Published By: @ZblabaEGLD EGLDUSDT.P #1D #Elrond #eGold #MultiversX multiversx.comRisk/Reward= 1:2.0Expected Profit= +79.5%Possible Loss= -39.8%Estimated Gaintime= 1-2 monthsEGLDUSDT.P All entry targets achievedAverage Entry Price: 34.56 💵EGLD successfully retested 50MA support and is bouncing back on it so far, good start.ByBit USDT EGLDUSDT.P Stop Target Hit ⛔️ Loss: 39.8148% 📉 EGLD did not bounce on 50MA support but lost it instead, it's trying to regain it now though.Weekly chart still looks good though, probably worth holding a Spot bag long-term: