Technical analysis by The_Alchemist_Trader_ about Symbol EGLD: Buy recommendation (7/19/2025)

EGLD is approaching a key resistance level that may determine the next directional move. A reclaim above the point of control could set the stage for an uptrend continuation toward $37 and beyond. EGLD is currently trading at a critical resistance region — the point of control (POC) — which serves as the highest volume node within the current trading range. This level often acts as a magnet for price, but also presents resistance that can either trigger continuation or cause a short-term pullback. From a technical standpoint, EGLD remains in a local uptrend, but a higher low formation is needed to confirm the next leg upward. Key Technical Points: - Point of control acting as resistance – A key level that must be reclaimed to confirm bullish continuation - 0.618 Fibonacci retracement in play – Potential area for a higher low if price pulls back - Upside target near $37 – If structure holds, price could push beyond recent highs If EGLD fails to break through the point of control cleanly on the first attempt, a short-term pullback toward the 0.618 Fibonacci retracement becomes likely. This level provides strong technical support and a chance for buyers to step in and form a higher low — a key feature of a healthy, bullish structure. The presence of the 0.618 retracement just beneath current price action provides a strong technical safety net. Holding this level would not only preserve the uptrend but also set the stage for a push toward the $37 region, which marks the next major resistance and previous swing high. This scenario is contingent on the market maintaining bullish intent and avoiding a breakdown below the higher low structure. If price dips below the 0.618 level and fails to recover quickly, it would suggest weakness and potentially reset the structure to neutral or even bearish. That said, current price behavior indicates that bulls are in control — but a volume-backed breakout above the point of control will be the key trigger. If this occurs, it could catalyze a fast move toward new local highs. If EGLD reclaims the point of control with strong volume, expect bullish continuation toward the $37 target. However, a short-term pullback remains likely, with the 0.618 Fibonacci zone offering a potential higher low setup. Watch for volume spikes and structure confirmation to validate the next move.