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EGLD Crypto Price Analysis: Can MultiversX Overcome Hurdles?

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EGLD crypto resumes its downside journey for the fourth consecutive day after falling from the recent high. The bulls did not show any interest to hold the price above the 20-day EMA which led to a continuous drop in the price. 

The EGLD price fell sharply, breaking below the 20-day and 50-day EMA and has reached the recent support.

MultiversX (EGLD) is a blockchain protocol which makes use of sharding to achieve high speed, security and scalability. It is a technique that splits the network into smaller units called shards. 

It has four shards out of which three for executing transactions and one for coordinating them. It has a large ecosystem of partners and dApps and tools. It aims to create a new internet economy powered by blockchain technology and metaverse. 

EGLD Crypto Price Analysis: Can MultiversX Overcome Hurdles?
Source: CoinMarketCap

MultiversX Price (EGLD) Technical Analysis

The EGLD crypto trades in a rising trend on a daily scale with each pullback considered as a buying opportunity by the market participants. The long term trend signifies positivity for the past three months.

Furthermore, the recent price drop is backed by momentum indicating the bears might attempt to turn the trend in their favor. The price has corrected to reach a 50 day EMA which currently trades around 57.35. 

The relative strength index has slipped below the mean line suggesting a bearish outlook in the short term. A recovery move is highly likely as the broader appeal is upbeat and the EGLD crypto has neared the recent support. 

Fresh buying opportunities may arise if the price manages to surpass the 20 day EMA over the daily time frame. This would drive the price further to retrace the recent high and break further if the buying continues.  

EGLD Crypto Price Prediction January 2024

EGLD Crypto Price Analysis: Can MultiversX Overcome Hurdles?
Source: EGLD/USD by TradingView

 The analysts have a wide range of price predictions for January 2024. The most optimistic view of analysts hope that the price could reach a high of $78.110 by the month end. Whereas the pessimistic price target lies near $41.52. 

EGLD Crypto Price Prediction 2024

According to our analysts, the most optimistic view of analysts estimates an upside potential of  7013%. The price of the MultiversX token could reach up to $97.03 by the end of 2024. The pessimistic view of analysts is that it could attain the $84.70 mark.

EGLD Crypto Price Prediction 2025

The most optimistic note of the price prediction for the year 2025 shows that MultiversX price could lead to a high of $131.72. However, the pessimistic view of analysts expects the price to reach $94.62. 

EGLD Crypto Price Prediction 2026

The EGLD crypto price may reach a high of $191.868 if a positive trend prevails in the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $139.60 by 2026.

EGLD Crypto Price Prediction 2027

As per the price prediction of our analysts for the year 2027, the EGLD crypto price could reach as high as $241.5. Whereas the lowest value up to which the price could advance is $187.25.

EGLD Crypto Price Prediction 2028

By the next four years the most optimistic price that the MultiversX investors may target is $309.27. On the contrary the lowest price target that the EGLD crypto may show is $234.72.

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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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