MultiversX (Elrond) Dropped -13.37% in Last Month and is Predicted to Drop to $33.67 By May 21, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• MultiversX (Elrond) is down -3.22% today against the US Dollar
• EGLD/ETH decreased by -2.91% today
• MultiversX (Elrond) is currently trading 11.35% above our prediction on May 21, 2023
• MultiversX (Elrond) dropped -13.37% in the last month and is down -59.77% since 1 year ago

EGLD price is expected to drop by -10.20% in the next 5 days according to our MultiversX (Elrond) price prediction

MultiversX (Elrond) price today is trading at $ 37.49 after losing -3.22% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -3.35% in the same time period. EGLD performed poorly against BTC today and recorded a -1.72% loss against the world’s largest cryptocurrency.

According to our MultiversX (Elrond) price prediction, EGLD is expected to reach a price of $ 33.67 by May 21, 2023. This would represent a -10.20% price decrease for EGLD in the next 5 days.

EGLD Price Prediction Chart

Buy/Sell MultiversX (Elrond)

What has been going on with MultiversX (Elrond) in the last 30 days

MultiversX (Elrond) has been displaying a negative trend recently, as the coin lost -13.37% in the last 30-days. The medium-term trend for MultiversX (Elrond) has been bearish, with EGLD dropping by -16.80% in the last 3 months. The long-term picture for MultiversX (Elrond) has been negative, as EGLD is currently displaying a -59.77% 1-year price change. On this day last year, EGLD was trading at $ 93.19.

MultiversX (Elrond) reached its all-time high price on Nov 23, 2021, when the price of EGLD peaked at $ 541.18. The current EGLD cycle high is $ 54.12, while the cycle low is at $ 32.43. EGLD has been displaying low volatility recently – the 1-month volatility of the coin is at 5.22. MultiversX (Elrond) recorded 12 green days in the last 30 days.

MultiversX (Elrond) technical analysis for today – May 16, 2023

The sentiment in the MultiversX (Elrond) markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 37.86, $ 37.30 and $ 36.59, while $ 39.12, $ 39.83 and $ 40.38 are the key resistance levels.

Bearish sentiment for MultiversX (Elrond)

3 indicators are currently signaling a bullish prediction for MultiversX (Elrond), while 24 indicators are showing a bearish forecast. With 89% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for MultiversX (Elrond).

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 54 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

MultiversX (Elrond) moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how MultiversX (Elrond) is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for MultiversX (Elrond) is at 43.33, suggesting that EGLD is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of MultiversX (Elrond) over the last 50 days. Currently, MultiversX (Elrond) is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the EGLD closing price for the last 200 days. EGLD is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this MultiversX (Elrond) prediction

After considering the above factors, we can conclude that the current forecast for MultiversX (Elrond) price prediction is Bearish. EGLD would have to decrease by -10.20% to hit our $ 33.67 target within the next five days. Moving forward, it will be important to monitor the EGLD market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term MultiversX (Elrond) price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.