Elrond (EGLD) Price Prediction 2022 – Will EGLD Hit $400 Soon?

• Bullish EGLD price prediction for 2022 is $65.53 to $348.41.
• The EGLD price will also reach $400 soon.
• Bearish EGLD price prediction for 2022 is $20.68.

In Elrond (EGLD) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about EGLD to analyze the future movement of the cryptocurrency. 

Elrond (EGLD) Current Market Status

According to CoinGecko, the price of Elrond (EGLD) is $55.03 with a 24-hour trading volume of $35,040,418 at the time of writing. However, EGLD has decreased to 3.7% in the last 24 hours. 

Moreover, Elrond (EGLD) has a circulating supply of 22,580,398  EGLD. EGLD trades in cryptocurrency exchanges such as Binance, OKX, Bybit, Bitget, and MEXC.

What is Elrond (EGLD)?

Elrond is a piece of software that aims to incentivize a distributed network of computers to run a smart contract platform with a focus on scalability and low transaction fees. It was founded in 2017 and is supported by Elrond Network, a Malta-based company dedicated to the project’s growth.

Elrond is powered by its own cryptocurrency, EGLD coin, which is used to interact with applications, send transactions, and incentivize network actors. It employs two distinct features: Adaptive State Sharding and Secure Proof-of-Stake (SPoS).

Elrond (EGLD) Price Prediction 2022

Elrond (EGLD) holds the 47th position on CoinGecko right now. EGLD price prediction 2022 is explained below with a weekly time frame.

The above chart of Elrond (EGLD) laid out descending channel pattern. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend. The space between the trendline is the descending channel, which falls under the broad category of trend channels. It is a bearish chart pattern defined by a trendline supporting the series of lower lows and a diagonal resistance level connecting the lower highs.

Currently, Elrond (EGLD) is at $55.03. If the pattern continues, the price of EGLD might reach the resistance level of $65.40, $88.47 and $110.15. If the trend reverses, then the price of EGLD may fall to $38.08.

Elrond (EGLD) Support and Resistance Levels

The chart below shows the support and resistance levels of Elrond (EGLD).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Elrond (EGLD).

The charts show that EGLD has performed a bullish trend over the past month. If this trend continues, EGLD might run along with the bulls overtaking its resistance level at $348.41.

Accordingly, if the investors turn against the crypto, the price of the EGLD might plummet to almost $20.68, a bearish signal.

Elrond (EGLD) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Elrond (EGLD) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of EGLD lies below the cutoff line, indicating weak participants in the current trend.

Moreover, the Moving Average (MA) of Elrond (EGLD) is shown in the above chart. Notably, the EGLD price lies below 50 MA (short-term), so it is entirely in a downward trend. Currently, EGLD is in a bearish state. There is a possibility of a reversal trend of EGLD at any time.

Meanwhile, the relative strength index (RSI) of the EGLD is at a level of 45.92. This means that EGLD is in a nearly oversold state. However, this gives confidence to the traders to trade without any fear.

Elrond (EGLD) Price Prediction 2022 — ADX, RVI

Let us now look Average Directional Index (ADX) of Elrond (EGLD). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of Elrond (EGLD). Currently, EGLD lies in the range of 24.72, indicating a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of Elrond (EGLD). RVI measures the constant deviation of price changes over a period of time. The RVI of EGLD lies just below 50, indicating slightly lower volatility. In fact, EGLD’s RSI is at 45.92, thus confirming a potential buy signal.

Comparison of EGLD with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Elrond (EGLD).

From the above chart, we can interpret ETH, BTC, and EGLD are moving in a similar trend but with slight differences. This indicates that when the price of BTC increases or decreases, the price of ETH and EGLD also increase or decrease respectively.

Elrond (EGLD) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Elrond (EGLD) might probably attain $425 by 2023.

Elrond (EGLD) Price Prediction 2024

With several upgrades in the network, Elrond (EGLD) might enter a bullish trajectory. If the coin grabs the attention of major investors, EGLD might rally to hit $463 by 2024. 

Elrond (EGLD) Price Prediction 2025

If Elrond (EGLD) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, EGLD would rally to hit $491.  

Elrond (EGLD) Price Prediction 2026

If Elrond (EGLD) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, EGLD would rally to hit $520. 

Elrond (EGLD) Price Prediction 2027

If Elrond (EGLD) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, EGLD would rally to hit $541. 

Elrond (EGLD) Price Prediction 2028

If Elrond (EGLD) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, EGLD would hit $560.

Elrond (EGLD) Price Prediction 2029

If investors flock in and continue to place their bets on Elrond (EGLD), it would witness major spikes. EGLD might hit $577 by 2029.

Elrond (EGLD) Price Prediction 2030

With greater advancements in the Elrond ecosystem, the crypto community might continue to invest in Elrond (EGLD) for the next 8 years and drive significant price rallies for the token. Hence, Elrond (EGLD) might hit $600 by 2030.

Conclusion

With continuous improvements in the Elrond network, we can say that 2022 is a good year for EGLD. For this reason, the bullish price prediction of Elrond (EGLD) in 2022 is $238.47. On the other hand, the bearish price prediction of Elrond (EGLD) for 2022 is $40.40.

Furthermore, with the advancements and upgrades in the Elrond ecosystem, the performance of Elrond (EGLD) might hit $150 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $545.64 in the near future.

FAQ

1. What is Elrond (EGLD)?

Elrond is a piece of software that aims to incentivize a distributed network of computers to run a smart contract platform with a focus on scalability and low transaction fees. 

2. Where can you purchase Elrond (EGLD)?

Elrond (EGLD) has been listed on many crypto exchanges which include Binance, OKX, Bybit, Bitget, and MEXC.

3. Will Elrond (EGLD) reach a new ATH soon?

With the ongoing developments and upgrades within the Elrond platform, Elrond (EGLD) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Elrond (EGLD)?

On November 23, 2021, Elrond (EGLD) reached its new all-time high (ATH) of $545.64.

5. Is Elrond (EGLD) a good investment in 2022?

Elrond (EGLD) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Elrond in the past few months, EGLD is considered a good investment in 2022.

6. Can Elrond (EGLD) reach $400?

Elrond (EGLD) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Elrond (EGLD) will hit $400 soon.

7. What will be Elrond (EGLD) price by 2023?

Elrond (EGLD) price is expected to reach $425 by 2023.

8. What will be Elrond (EGLD) price by 2024?

Elrond (EGLD) price is expected to reach $463 by 2024.

9. What will be Elrond (EGLD) price by 2025?

Elrond (EGLD) price is expected to reach $491by 2025.

10. What will be Elrond (EGLD) price by 2026?

Elrond (EGLD) price is expected to reach $520 by 2026.

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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