Technical analysis by PROFITPULSE10X about Symbol EGLD: Buy recommendation (1/13/2025)

Support Zone Around $27-$28:There’s a clearly marked order block around the $27-$28 range, indicating a region of significant demand.Recent price action suggests bearish momentum leading to this zone, which may act as a strong support if tested.Reversal Potential:If the price finds support and reverses from the $27-$28 area, it could confirm this zone as a critical demand level.The RSI is currently near the oversold region (~36), suggesting that bearish momentum might be weakening, aligning with a potential reversal.EMA Dynamics:The 50 EMA (yellow) and 200 EMA (pink) are above the current price, indicating a bearish trend.For a sustainable uptrend, the price would need to reclaim these EMAs.Targets Post-Reversal:$35: First target near the 50 EMA, where sellers may initially step in.$40: A significant resistance zone tied to recent liquidity and order block rejection.$55+: Long-term target aligned with the previous peak, indicating a return to a bullish trend.Strategy:Wait for price confirmation in the $27-$28 zone (e.g., bullish candles, RSI divergence).Track volume and price strength as it approaches $35 for early signs of rejection or continuation.Longer-term positions could aim for $40 and $55, provided the trend flips bullish.