CNBC’s recent report mentioned Elrond along with Polygon, Uniswap as altcoins that had significant gains despite bearish sentiment in the crypto market.
- Elrond currently has a bullish trend and is ready to challenge the $57.7 resistance mark
- If its bull momentum does not stop, EGLD may reach $67.5
- Experts expect the asset to end 2019 with a close price to its November 2021 ASTH
Elrond’s September 28 price increase of $45.43 was 10%. It now trades at $55.65.
The blockchain token had a better performance than the other cryptos, with its chart being in green, except for the year-to date price, which was still in red.
According to data from, CoingeckoThe altcoin trades at $56.50, up 3.9% over the past 24 hour and 4.8% in the last week.
The gains of the 14- and 30-days are impressive as well, at 16.2% and 17.8%, respectively.
Elrond has more good news
Elrond suffered a severe price correction during the last weeks. The stock fell by nearly 32%.
But the asset’s current technical analysis chart shows its price is caught in a cup and handle pattern which in crypto space signals recovery.
However, the recovery occurred but it was only temporary and ended at $57.5. This is also the resistance mark that buyers had to overcome.
Elrond will be able to resume its bullish momentum if it successfully crosses the critical $57.7 price point.
Altcoin holders and investors should be careful as any break below this resistance mark will result in a plunge to $51.5.
Prediction of Elrond’s Price
Experts share their Elrond analysis as the cryptocurrency recovers from its beating last month.
Trading Beasts, a leading forex and crypto education portal, said that their logical algorithm predicted that EGLD could reach $184 by 2022.
Wallet Investor however, provided two forecasts regarding Elrond prices. First, they predict that Elrond will end the year at $252 as its trading price. A five-year prediction is made for the token. They see it reaching $612 by 2027.
Meanwhile, Crypto Gunther said too much variation between the asset’s maximum and minimum price makes it hard to decide whether to buy or not as its prediction for EGLD by the end of 2022 stands at $210.
GOV Capital, a public financial leader is bullish on crypto prices. The company stated that it expects to end 2018 with an average price of $870.
Despite the fact that the Elrond asset’s current price is absurd, it has shown its ability to reach such highs when it reached $545.64 last November 23rd.
Featured Image from Zipmex. Chart: TradingView.com| Featured image from Zipmex, Chart: TradingView.com Disclaimer: The author's analysis should not be taken as investment advice.