Will EGLD Price Hit $50 Soon?

  • Bullish EGLD price prediction ranges from $60.74 to $62.80.
  • EGLD price might also reach $50 this 2023.
  • EGLD’s bearish market price prediction for 2023 is $38.32.

MultiversX, formerly known as Elrond,  is a blockchain protocol that utilizes sharding to provide incredibly fast transaction rates. The project identifies itself as a technology ecosystem for the future Internet, including fintech, decentralized finance, and the Internet of Things. Its infrastructure for executing smart contracts supposedly supports 15,000 transactions per second, six-second latency, and a transaction cost of $0.001.

The native token of the blockchain is called Electronic Gold (EGLD), which is utilized for paying network fees, staking, and rewarding validators. By holding and staking EGLD, users have the ability to cast votes on network enhancements and are rewarded with freshly minted EGLD in proportion to the amount staked.

Let’s now take a detailed look at MultiversX’s operations and its native token, EGLD. Moreover, this article will conduct a comprehensive analysis of EGLD and forecast the price for 2023, 2024, 2025, 2026, till 2050.

MultiversX (Elrond) (EGLD) Market Overview

🪙 NameMultiversX
💱 Symbolegld
🏅 Rank#46
💲 Price$43.29
📊 Price Change (1h)-0.59941 %
📊 Price Change (24h)-3.07471 %
📊 Price Change (7d)9.8759 %
💵 Market Cap$1097009006
📈 All Time High$545.64
📉 All Time Low$6.51
💸 Circulating Supply25336547 egld
💰 Total Supply25341699 egld

What Is MultiversX (Elrond) (EGLD)?

MultiversX, formerly known as Elrond,  is a blockchain protocol that utilizes sharding to provide incredibly fast transaction rates. The project identifies itself as a technology ecosystem for the future Internet, including fintech, decentralized finance, and the Internet of Things. Its infrastructure for executing smart contracts supposedly supports 15,000 transactions per second, six-second latency, and a transaction cost of $0.001. The native token of the blockchain is called Electronic Gold (EGLD), which is utilized for paying network fees, staking, and rewarding validators.

MutliversX promotes itself as a blockchain-based platform for the new Internet economy, decentralized applications, and enterprise applications. It is the first blockchain network to include state, network, and transaction sharding. Its primary selling point is its tremendous scalability. According to its whitepaper, the company intends to develop its ecosystem and create EGLD as a store of value.

MultiverX has integrated a secure proof-of-stake consensus algorithm, in which nodes must stake their EGLD tokens to take part in the validation process. Each validator is also given a rating score based on their past actions, which affects whether or not they are chosen. If a validator’s score gets too low, it won’t be chosen and will have to pay fines. Validators can also be kicked off the network and have their stakes cut if they keep doing things that hurt the network’s integrity.

Validators are chosen at random in a way that can’t be predicted or changed based on the previous round of validations. Also, validators are shuffled around between shards regularly to prevent collusion. Nodes communicate to each other using modified Boneh-Lynn-Shacham, or BLS, multi-signatures for strong cryptographic protection.

Analysts’ Views on MultiversX (EGLD)

The co-founder of MultiversX Beniamin Mincu announced that MultiversX has accomplished another feather in a hat in their list. Mincu claimed that the first NFT transaction involving an EU governmental institution has occurred. Moreover, Mincu pointed out that this could be a historic precedent for other institutions, states, and companies.

This latest announcement follows a series of achievements for EGLD. It marks an important milestone in building a highly performant, scalable, and secure technology backbone that enables radically new applications for users, businesses, society, and the new metaverse frontier.

According to another crypto analyst, Strong on Twitter mentioned that the market is in the depression moment where a lot of investors and traders are going out from the market. But sooner after they leave, the market will lead to a bull run according to the psychology of the market. He even compared it with the Elrond chart, where we can clearly see the market state of Elrond.

MultiversX (EGLD) Current Market Status

EGLD is ranked in the 44 position based on its market capitalization, according to CoinMarketCap. The current circulating supply of EGLD’s native token is at 25,336,547 EGLD, while its total supply is 25,341,699. 

Moreover, EGLD is priced at $44.61, experiencing a 13.31% surge in seven days. With a market cap of $1,130,320,849, EGLD also witnessed a 5.34% fall in 24 hours. Moreover, EGLD is currently facing a fall in its demand as the trading volume, valued at $119,335,447, experienced a tumble of 27.76%% in one day.

Some of the crypto exchanges for trading EGLD are currently Binance, OKX, ByBit, Kraken, and KuCoin. 

Now, let’s dive further and discuss the price analysis of MultiversX native token, EGLD, for 2023.

MultiversX (EGLD) Price Analysis 2023

Will MultiversX’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the crypto industry affect EGLD’s sentiment over time? Read more to find out about EGLD’s 2023 price analysis.

MultiversX (EGLD) Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The Bollinger Bands consists of upper and lower bands which can be used together, along with the middle line(simple moving average), to determine whether the price would rise or fall. 

The upper band of the BB is calculated by adding 2 times the standard deviations to the middle line, while the lower band is calculated by subtracting 2 times the standard deviation from the middle line. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. As such, the prices of the cryptocurrency, when the Bollinger bands are applied should stay within the upper and lower bands 95% of the time the concept behind this.

EGLD/USDT 1Day Chart Showing Bollinger Bands (Source: Tradingview)

Looking at the charts, EGLD had crossed below the lower band, which is considered the oversold region. After residing in the bottom half and touching the lower band of the Bollinger Bands, EGLD crossed above the SMA and the recent candlesticks are currently trading in the top half of the Bollinger Bands, which is the bullish signal for the altcoin. Moreover, ELGD also traded above the upper band, which is the overbought region. There is a possibility that ELGD could face a slight fall if the candlesticks continue to trade above the upper band of the indicator. 

Furthermore, the bands of the Bollinger Band have started to expand, indicating that EGLD could experience high volatility over time. If the distance between the bands continues to widen and the candlesticks trade in the overbought region, there is a possibility that the altcoin could fall back into the bottom half of the indicator. If the EGLD indicators continue to fall back to the lower half, the altcoin could be traded under a bearish market for some time.

MultiversX (EGLD) Price Analysis – Relative Strength Index

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered as the overbought region, and traders expect the price could fall soon.

EGLD/USDT 1Day Chart Showing Relative Strength Index (Source: Tradingview)

The RSI is valued at 62.54, which indicates that EGLD is experiencing a strong trend. Moreover, the RSI has also crossed way above the SMA, which further confirms that EGLD is currently trading in a bullish sentiment. The RSI has shot up and remains to be pointed upward, indicating that there is a high possibility that EGLD could reach the overbought region. If the traders continue to purchase EGLD, then, the RSI would be residing in the overbought region for some time, before it faces price retracement.

However, if there is a trend reversal, then, there is a possibility that the RSI’s value could decrease. Moreover, the RSI could go below the SMA, which is the bearish sentiment, if its value continues to decrease for a long time.

MultiversX (EGLD) Price Analysis – Moving Averages

EGLD/USDT 1-Day Chart Showing Moving Averages (Source: Tradingview)

Looking at the charts, EGLD’s candlesticks have reached above the 200MA and the 50MA. However, it is not confirmed if the EGLD will continue to remain in a bullish area. When we look closer, EGLD was trading below the indicators. However, whenever EGLD traded during the bullish signal, the gap between the 200MA and 50MA continued to reduce. If EGLD continues to trade above the indicators, then, there is a high possibility that a golden cross could be formed where the 50Ma crosses above the 200 MA.

However, if EGLD continues to trade below the 50MA and the 200MA, then, the gap between the indicator may continue to widen.

MultiversX (EGLD) Price Analysis – Moving Averages Convergence Divergence

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will simplify the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. 

Traders have reported that occasionally the Moving Average could create false signals about the price momentum, however, MACD plays an important role as it can confirm the trends and identify the potential reversals.

Furthermore, there are two methods through which traders can speculate the price’s momentum: the crossover method and the histogram method. In the crossover method, when the MACD line crosses above the signal line, the trend could change from a downtrend to a long trend. However, if MACD crosses below the signal line, this could indicate the start of a downtrend.

In the Histogram method, the bars above the signal line indicate an uptrend. Meanwhile, the Histogram bars below the signal line indicate a bearish trend.

EGLD/USDT 1-Day Chart Showing Moving Averages Convergence Divergence (Source: Tradingview)

The charts indicate that EGLD is experiencing a bullish sentiment as the MACD line is above the signal line. Moreover, this crossover by the MACD line could be a positive sign for the altcoin as it’s a confirmation that EGLD could continue to rise. There are green bars forming on the histogram model, which confirms the theory that EGLD could continue to rise up. 

However, if the trend reverses, then, the green bars would gradually reduce and the distance between the MACD line and signal would also decrease, thus, ending the EGLD’s short bullish trend.

MultiversX (EGLD) Price Prediction 2023 – 2030 Overview

YearMinimum PriceAverage PriceMaximum Price
2023$40.93$56.29$62.80
2024$62.43$72.25$90.70
2025$92.28$100.95$126.10
2026$127.98$143.35$161.80
2027$162.98$188.30$205.80
2028$208.98$234.30$251.80
2029$255.28$280.60$298.10
2030$304.86$325.23$347.68
2040$640.00$720.00$780.00
2050$1,200.00$1,580.00$1,750.00

MultiversX (EGLD) Price Prediction 2023 

EGLD/USDT 1-Day Chart (Source: Tradingview)

EGLD is currently trading between the Weak High region and the Support region. Earlier, the candlesticks were trading in the Support region, however, it broke through the Support and experienced a surge. As indicators confirm that there could be a possibility of an uptrend over time,  EGLD could soon reach the Weak High region and even beyond. If EGLD breaks beyond the Weak High region, then, there is a high possibility that the altcoin could reach the Resistance level. 

However, if EGLD’s trend reverses immediately, then, there is a high possibility that the altcoin fall back in the Support realm or go even below it.

Meanwhile, the forecast for EGLD remains to be bullish and is expected to reach beyond the level of $60.32. The bearish price prediction for EGLD ranges from $38.32 to $40.31.

MonthMinimum PriceAverage PriceMaximum Price
May 202345.69046.99049.019
June 202347.56049.81051.870
July 202350.53051.65053.673
August 202352.27553.30055.323
September 202353.77854.29054.311
October 202355.26956.29058.350
November 202356.46759.49060.513
December 202358.62060.74062.800

MultiversX (EGLD) Price Prediction – Resistance and Support

EGLD/USDT 1-Day Chart (Source: TradingView)

The chart above shows that the price of EGLD has decreased in the past few months. Moreover, the price of EGLD has fallen by 3.20% in the past 24 hours after a surge during the week. However, there are signs of a trend reversal. If the trend reversal happens, EGLD could be running with the bulls, breaking its Resistance levels of $60 and $90.

However, if EGLD falls, then, it could reach the break the $38.32 to $40.31 support 1 level, as the bears may seize control and dethrone EGLD to an downward stance. In simple terms, the price of Elrond might fall almost $40.31.

MultiversX (Elrond) (EGLD) Price Prediction 2024 

MultiversX (EGLD) price can rise to incredible heights, peaking at $90. This is only feasible if the market continues its upward path and only if EGLD breaks through the past psychological resistance levels.

MonthMinimum PriceAverage PriceMaximum Price
January 202462.87962.90062.923
February 202464.59064.89064.919
March 202466.46066.71066.770
April 202468.43068.55068.573
May 202470.32970.35070.371
June 202472.22772.25072.310
July 202475.17575.20075.223
August 202477.67878.19078.211
September 202481.16981.19081.250
October 202483.36783.39083.413
November 202487.32587.35087.371
December 202490.52090.64090.700

MultiversX (Elrond) (EGLD) Price Prediction 2025

EGLD price might grow to $126 during the next three years. Furthermore, hitting this level may not be so tough for EGLD because the new medium, short-term, and long-term price objectives for purchase or sell orders, may be discovered. 

MonthMinimum PriceAverage PriceMaximum Price
January 202592.27992.30092.323
February 202594.99095.29095.319
March 202598.86099.11099.170
April 2025100.830100.950100.973
May 2025103.729103.750103.771
June 2025107.627107.650107.710
July 2025110.575110.600110.623
August 2025113.078113.590113.611
September 2025116.569116.590116.650
October 2025118.767118.790118.813
November 2025122.725122.750122.771
December 2025125.920126.040126.100

MultiversX (Elrond) (EGLD) Price Prediction 2026

EGLD price might grow to $161 during the next four years. Furthermore, hitting this level may not be tough for EGLD because the new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. 

MonthMinimum PriceAverage PriceMaximum Price
January 2026127.979128.000128.023
February 2026130.690130.990131.019
March 2026134.560134.810134.870
April 2026136.530136.650136.673
May 2026139.429139.450139.471
June 2026143.327143.350143.410
July 2026146.275146.300146.323
August 2026148.778149.290149.311
September 2026152.269152.290152.350
October 2026154.467154.490154.513
November 2026158.425158.450158.471
December 2026161.620161.740161.800

MultiversX (Elrond) (EGLD) Price Prediction 2027

EGLD price might soar to $205 in the next five years. Furthermore, hitting this level may not be difficult for EGLD as other mediums, such as short-term and long-term price objectives for purchase or sell orders, may be discovered.

MonthMinimum PriceAverage PriceMaximum Price
January 2027162.979163.000163.023
February 2027167.690167.990168.019
March 2027171.560171.810171.870
April 2027176.530176.650176.673
May 2027179.429179.450179.471
June 2027183.327183.350183.410
July 2027188.275188.300188.323
August 2027190.778191.290191.311
September 2027194.269194.290194.350
October 2027198.467198.490198.513
November 2027202.425202.450202.471
December 2027205.620205.740205.800

MultiversX (Elrond) (EGLD) Price Prediction 2028

In the next six years, EGLD’s price could rise to $251. More so, reaching this level might be easy for EGLD as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. 

MonthMinimum PriceAverage PriceMaximum Price
January 2028208.979209.000209.023
February 2028213.690213.990214.019
March 2028217.560217.810217.870
April 2028222.530222.650222.673
May 2028225.429225.450225.471
June 2028229.327229.350229.410
July 2028234.275234.300234.323
August 2028236.778237.290237.311
September 2028240.269240.290240.350
October 2028244.467244.490244.513
November 2028248.425248.450248.471
December 2028251.620251.740251.800

MultiversX (Elrond) (EGLD) Price Prediction 2029

In the next seven years, EGLD’s price could rise to $298. More so, reaching this level could be easy for EGLD as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. According to the forecast, EGLD has a strong chance of reaching the previous ATH.

MonthMinimum PriceAverage PriceMaximum Price
January 2029255.279255.300255.323
February 2029259.990260.290260.319
March 2029263.860264.110264.170
April 2029268.830268.950268.973
May 2029271.729271.750271.771
June 2029275.627275.650275.710
July 2029280.575280.600280.623
August 2029283.078283.590283.611
September 2029286.569286.590286.650
October 2029290.767290.790290.813
November 2029294.725294.750294.771
December 2029297.920298.040298.100

MultiversX (Elrond) (EGLD) Price Prediction 2030

In the next eight years, EGLD’s price could rise to $347.64. More so, reaching this level could not be difficult for EGLD as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. According to the forecast, EGLD has a strong chance of reaching the previous ATH.

MonthMinimum PriceAverage PriceMaximum Price
January 2030304.859304.880304.903
February 2030309.570309.870309.899
March 2030313.440313.690313.750
April 2030318.410318.530318.553
May 2030321.309321.330321.351
June 2030325.207325.230325.290
July 2030330.155330.180330.203
August 2030332.658333.170333.191
September 2030336.149336.170336.230
October 2030340.347340.370340.393
November 2030344.305344.330344.351
December 2030347.500347.620347.680

MultiversX (Elrond) (EGLD) Price Prediction 2040

According to our long-term MultiversX price estimate, EGLD prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $720 by 2040. If the market turns bullish, the price of MultiversX could go up beyond what we predicted for 2040.

Minimum PriceAverage PriceMaximum Price
$640$720$780

MultiversX (Elrond) (EGLD) Price Prediction 2050

According to our MultiversX forecast, the average price of EGLD in 2050 might be above $1580. If more investors are drawn to MultiversX between these years, the price of MultiversX in 2050 could be far higher than our projection.

Minimum PriceAverage PriceMaximum Price
$1200$1580$1750

Conclusion

EGLD has been part of the watch-out list for many investors as it aims to make its mark in the blockchain industry. If investors continue to show interest in EGLD and add these tokens to their portfolio, then, it could continue to rise up. EGLD’s bullish price prediction shows that it could pass beyond the $60.32 level. Moreover, EGLD could surpass the $1500 level by the end of 2050. 

FAQ

What is EGLD?

Elrond is a blockchain protocol that utilizes sharding to provide incredibly fast transaction rates. The project identifies itself as a technology ecosystem for the future internet, including fintech, decentralized finance, and the Internet of Things. Its infrastructure for executing smart contracts supposedly supports 15,000 transactions per second, six-second latency, and a transaction cost of $0.001. The native token of the blockchain is eGold (EGLD), which is utilized for paying network fees, staking, and rewarding validators.

How to buy EGLD tokens?

Like other digital assets in the crypto world, EGLD can be traded on many exchanges. Binance, OKX, Deepcoin, BingX, and Bybit are currently the most popular cryptocurrency exchanges for trading EGLD.

Will EGLD surpass its current ATH?

Since EGLD provides investors with several opportunities to profit from their crypto holdings, EGLD seems to be a really good investment in 2023. However, EGLD has a high possibility of surpassing its current ATH in 2029.

Can EGLD reach $100 soon?

In terms of active crypto assets, EGLD is one of the few that continues to rise in value. As long as this bullish trend continues, EGLD might break through $68 and reach as high as $100. Of course, if the current market favoring crypto continues, this is extremely likely to happen.

Is EGLD a good investment in 2023?

As one of the fastest-rising cryptocurrencies, EGLD is expected to continue its upward trend. We may also conclude that EGLD is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.

What Is the lowest price of EGLD?

The lowest EGLD price is $6.54, which was attained on October 7, 2020, according to CoinMarketCap.

Which year was EGLD launched?

EGLD was launched in October 2017.

Who are the co-founders of EGLD?

Beniamin and Lucian Mincu founded EGLD.

What is the maximum supply of EGLD?

The maximum supply of EGLD is 31,415,926 EGLD.

How do I store EGLD?

EGLD can be stored in a cold wallet, hot wallet, or exchange wallet.

What will be the EGLD price in 2023?

EGLD is expected to reach $60 by 2023.

What will be the EGLD price in 2024?

EGLD is expected to reach $90 by 2024.

What will be the EGLD price in 2025?

EGLD is expected to reach $126 by 2025.

What will be the EGLD price in 2026?

EGLD is expected to reach $161 by 2026.

What will be the EGLD price in 2027?

EGLD is expected to reach $205 by 2027.

What will be the EGLD price in 2028?

EGLD is expected to reach $251 by 2028.

What will be the EGLD price in 2029?

EGLD is expected to reach $298 by 2029.

What will be the EGLD price in 2030?

EGLD is expected to reach $347 by 2030.

What will be the Elrond price in 2040?

EGLD is expected to reach $720 by 2040.

What will be the Elrond price in 2050?

EGLD is expected to reach $1580 by 2050.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

More Crypto Price Predictions:


Post Views: 1,644

Source: https://coinedition.com/multiversx-elrond-egld-price-prediction/