$EGLD EGLD/USDT Summary Analysis (H1)

1. General Context:

The price is moving in a lateral range between the key support 45.50 USDT (yellow line) and the resistance 48.23 USDT (blue line).

Congestion phase with decreasing volumes, waiting signal.

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2. Key Levels:

Support: 45.50 USDT (key) and 44.80 USDT (24-hour low).

Resistance: 48.23 USDT (static) and 50.00 USDT (psychological).

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3. Identified Patterns:

Potential double bottom: If the support at 45.50 USDT holds and the price reverses with increasing volumes.

Indecision Candlestick: Signal that the market is waiting for a breakout.

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4. RSI:

Current value: 46.26 → below the neutral level (50).

The price is neither overbought nor oversold. A recovery above 50 will signal a return of bullish momentum.

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5. Trading Strategy:

Entry: Long at around 45.50 USDT, with a bounce signal supported by volumes.

Stop Loss: 44.50 USDT, to avoid false breakouts.

Profit Target:

Target 1 (Conservative): 48.23 USDT (static resistance).

Target 2 (Aggressive): 50.00 USDT (psychological resistance).

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6. Volumes:

Volumes decreasing during the congestion phase → breakout accompanied by increasing volumes will be key to confirm the direction.

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Conclusion:

Watch the support at 45.50 USDT: a bounce with rising RSI and increasing volumes offers a long opportunity. Take partial profit at 48.23 USDT and let it run to 50.00 USDT.

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