Technical analysis by XLNCTrader about Symbol EGLD: Buy recommendation (12/26/2021)

eGLD had a parabolic move on the launch of their latest service of the Elrond Blockchain - the Maiar DEX. After the inevitable retrace, it has found support at the equilibrium of the long term ascending channel. Looking for a continuation of the long term bullish outlook as long as the overall macro picture for the crypto markets is held.*** update, the upward move is invalidated if the mid line is lost. Would be looking to set bids at around $128 if this plays out.Update to this - followed invalidation and filled bids at $125. Fib extension levels and midline of the channel will be lines for TP.