Technical analysis by BillyStaples about Symbol EGLD: Buy recommendation (9/9/2021)

EGLDUSDT has been strengthening since it re-entered the longer term channel (shown). This is due to further development of the blockchain and partnerships. The upcoming Maiar Exchange (MEX) launch will have a significant impact on the utility of the Elrond blockchain (as seen by DEX implementations on other major blockchains). Once the ATH is breached, price discovery could easily propel price to the upper bound of the channel (price target), and possibly beyond.EGLDEGLDUSDTEGLDBTCPrice has moved as projected, prehaps a bit quicker than expected. Trade remains open. Since the target trendline may be achieved sooner than expected, target price is ~$317.