What EGC Crypto Next Move?

EverGrow is a token engineered to gradually decrease in availability due to consistent token burns. Holders of $EGC receive a 4% reward from each Buy/Transfer/Sell transaction in $BUSD, and to date, EverGrow has allocated $39 Million $BUSD to its holders, a record-breaking figure for any project.

A portion equivalent to 1% of every Buy/Sell transaction is allocated to the project’s marketing and development funds. The EverGrow ecosystem is composed of LunaSky, an NFT marketplace, and Atlas Wallet, a user-friendly and comprehensive crypto wallet capable of managing up to 50 wallets, including Watch Only wallets, and features such as FIAT On/Off Ramp, On-Chain, and Cross-Chain Swaps. Additionally, EverGrow collaborates with The Abstract in the metaverse, integrating cryptocurrency services and gaming into a dynamic 3D environment.

The EVERGROW (EGC) replicated a notable drop of around 6.91% in the intraday session and breached the weekly low mark of $0.000000112, reflecting selling pressure on the charts. The token is heading to take support on the 20-Day EMA, with profit booking noted in the previous session. As per the price action, the technicals are suggesting a major correction ahead and are delivering a possible down move toward $0.0000000962, which can be seen shortly.

At press time, the EVERGROW token (EGC) price was trading at $0.0000001112 with an intraday drop of 6.91%, indicating a bearish move on the charts. It has a market cap of $52.17 Million. Analysts are bearish and suggest the EGC price will face further selloff and may soon break the key moving averages.

Technical Analysis of EverGrow Crypto

EverGrow by writer12_gsm on TradingView.com

The cryptocurrency EverGrow (EGC) has been experiencing a steady increase in price for the past three months, with a gain of 147.15%. Currently, the EGC crypto is trading in a bearish zone and trying to maintain its level after a recent pullback.

If the EGC price can hold this level, it may continue to rise and reach its first and second target prices of $0.000001300 and $0.000001400 respectively. However, if the price falls and cannot maintain this level, it may hit the closest support levels of $0.000000900 and $0.000000800.

At the time of writing, EverGrow crypto (USD: EGC) is trading above the 50 and 200-Day exponential moving averages (EMAs), which are currently supporting the price trend.

However, if the selling volume increases, the price may break below these supporting SMAs by making lower highs and lows. Therefore, the EGC price is expected to move downwards, indicating a bearish view over the daily time frame chart.

The current value of RSI is 54 points. The 14 SMA is above the median line at 71 points which indicates that the EverGrow crypto is bearish.

The MACD line at 0.0000000098 and the signal line at 0.0000000099b are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the EGC crypto price.

Summary

EverGrow (USD: EGC) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are highlighting adverse indications and suggest that the negative trend may continue in the EGC crypto price. Moreover EverGrow crypto can go high if it gets the desired support from buyers. Meanwhile, EverGrow cryptos need to accumulate buyers to push the crypto EverGrow price towards the recovery phase. 

Technical Levels

Support Levels: $0.000000900 and $0.000000800

Resistance Levels: $0.000001300 and $0.000001400

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.