Technical analysis by CryptoNuclear about Symbol EGLD: Buy recommendation (9/1/2025)

🔎 Overview The EGLD/USDT (1D, Binance) chart is currently forming a classic descending triangle pattern: Lower Highs are pressing price downward along the yellow trendline. A strong horizontal demand zone at 11.40 – 13.50 USDT has been repeatedly tested as support. Price is compressing toward the apex of the triangle → as the range tightens, the likelihood of a strong breakout or breakdown increases significantly. --- 🧩 Technical Pattern Details Descending Triangle → historically leans bearish, but can flip bullish if the breakout occurs with strong volume. Volume has been contracting, a typical sign of market indecision before a large move. Support Zone 11.40 – 13.50 → key demand area; losing this level may trigger a strong sell-off. Dynamic Resistance: the descending yellow trendline remains the critical barrier for bulls. --- 📊 Bullish Scenario Confirmation: Daily close above the descending trendline with strong volume. Upside Targets: First hurdle: 16.29 USDT Next: 18.20 → 20.85 USDT Mid-term if momentum expands: 33.48 – 38.67 USDT Reasoning: A breakout above a descending triangle often sparks a short-covering rally, leading to fast gains. --- 📉 Bearish Scenario Confirmation: Daily close below 11.40 USDT. Downside Targets: Immediate: 11.00 – 10.50 USDT Extension: 9.60 USDT (next major low on chart). Reasoning: Breaking a multi-tested demand zone confirms sellers’ dominance, likely triggering a continuation of the downtrend. --- 🎯 Strategy & Risk Management Conservative Approach: Wait for confirmation (breakout/breakdown) + retest → safer entries. Aggressive Approach: Long near the demand zone with tight stop-loss below 11.40 (higher risk due to bearish bias of the pattern). Stop Loss: Below demand zone for longs, above broken support (retest) for shorts. Risk/Reward: Minimum 1:2 R:R ratio to keep trades profitable over time. --- 🚀 Conclusion EGLD/USDT is at a make-or-break level. A breakout above the trendline could fuel a rally toward 18–20 USDT. A breakdown below 11.40 USDT opens the door to 9.60 USDT or lower. The market is compressing, and the next decisive daily close with volume will likely set the direction. This is a high-watch setup. #EGLD #EGLDUSDT #Elrond #CryptoAnalysis #TechnicalAnalysis #ChartPattern #DescendingTriangle #SupportResistanc #CryptoTrading #BullishScenario #BearishScenario