After the crypto market started showing signs of recovery after a price correction on Tuesday, some altcoins took advantage of the bullish sentiment to move to new highs. Elrond is among the leading gainers in the past 24 hours, with a double-digit uptrend.
Elrond is trading at $205.73 at the time of writing after a 39.8% gain in 24 hours.
Elrond Price Analysis
The gains made by EGLD in the past 24 hours have enabled the coin to head towards new monthly highs that, if maintained, the coin could be headed towards an all-time high of $243.
Currently, EGLD faces resistance at $210. If the market and buyer support hold, we could see the coin breaking past these levels. In the recent uptrend, EGLD managed to break past the resistance at $207, which shows that the rally towards $210 is possible. However, a slight slump in market support could lead to a sharp price correction.
If EGLD’s price action fails, we could see the coin heading towards the lower support levels of $200. This is a critical level for the coin because breaking past the level shows promise that the coin could head towards an all-time high.
If market bears are strong, we could also see EGLD heading towards the lower levels of around $198.slumping to these levels could strengthen the bull run, especially if traders continue to accumulate.
The Elrond blockchain continues to make strategic partnerships that are driving the values of EGLD. Recently, Elrond partnered with Cudos, a decentralized cloud computing platform accessed by around 300,000 businesses and firms in more than 145 countries. This will open up the network that the Elrond blockchain can access.
Where to Buy EGLD
If you want to buy EGLD during the current bull run, you can create an account on the following exchange platforms:
One of the most reputable exchange platforms is eToro. eToro supports a copy trading feature that makes it easy for a new trader to copy the trading strategies of expert traders. eToro also charges low trading fees and commissions.
You can also purchase EGLD from Crypto.com. This is also another leading exchange platform that supports a wide range of cryptocurrencies and trading pairs. The exchange also supports user-friendly features, making it easy to trade on the platform.
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