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1 year ago
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ARTICLE AD BOX
- Bullish EGLD price prediction for 2023 is $70.07 to $103.88.
- MultiversX (EGLD) price might reach $110 soon.
- Bearish EGLD price prediction for 2023 is $32.76.
In this MultiversX (EGLD) price prediction for 2023, 2024-2030, we will analyze the price patterns of EGLD by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
MULTIVERSX (EGLD) PRICE PREDICTION 2023 |
|
| MULTIVERSX (EGLD) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
MultiversX (EGLD) Current Market Status
| Current Price | $55.40 | 24 – Hour Price Change | 12.61% Down |
| 24 – Hour Trading Volume | $84,666,202 |
| Market Cap | />$1,459,566,125 |
| Circulating Supply | 26,339,156 EGLD | All – Time High | $542.58 (On Nov 23, 2021) |
| All – Time Low | $6.54 (On Oct 07, 2020) |
What is MultiversX (EGLD)
| TICKER | EGLD |
| BLOCKCHAIN | Elrond |
| CATEGORY | DeFi (Decentralized Finance) |
| LAUNCHED ON | 2018 |
| UTILITIES | Governance, Fast Transactions, gas fees & rewards |
MultiversX (EGLD) is a cryptocurrency project that has gained attention in the blockchain and cryptocurrency space. It is designed to operate within the Elrond blockchain ecosystem, known for its high performance and scalability. MultiversX aims to provide a decentralized and versatile platform for various blockchain applications and services.
As a token on the Elrond network, EGLD is integral to the MultiversX ecosystem. Users can utilize EGLD for transactions and interactions within the network, including smart contracts and decentralized applications. The project’s team envisions a multiverse of possibilities, wherein EGLD serves as a crucial component for facilitating diverse blockchain activities.
The project has garnered interest due to its commitment to scalability, security, and efficiency. By being part of the Elrond ecosystem, MultiversX (EGLD) seeks to offer a seamless and robust experience for users and developers in the world of blockchain and cryptocurrency.
MultiversX 24H Technicals
(Source: TradingView)
MultiversX (EGLD) Price Prediction 2023
MultiversX (EGLD) ranks 46th on CoinMarketCap in terms of its market capitalization. The overview of the MultiversX price prediction for 2023 is explained below with a daily time frame.
EGLD/USDT Right Angled Descending Broadening Wedge Pattern (Source: TradingView)
In the above chart, MultiversX (EGLD) laid out the right-angled descending broadening wedge pattern. A right-angled descending broadening wedge is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.
At the time of analysis, the price of MultiversX (EGLD) was recorded at $55.40. If the pattern trend continues, then the price of EGLD might reach the resistance levels of $69.05, and $209.92. If the trend reverses, then the price of EGLD may fall to the support of $41.32, and $22.64.
MultiversX (EGLD) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of MultiversX (EGLD) in 2023.
EGLD/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of MultiversX (EGLD) for 2023.
| Resistance Level 1 | $70.07 |
| Resistance Level 2 | $103.88 |
| Support Level 1 | $47.86 |
| Support Level 2 | $32.76 |
EGLD Resistance & Support Levels
MultiversX (EGLD) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (EGLD) are shown in the chart below.
EGLD/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current MultiversX (EGLD) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $46.98Price = $58.63 (50MA<Price) | Bullish / Uptrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 58.93 <30 = Oversold 50-70 = Neutral>70 = Overbought | Neutral |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
MultiversX (EGLD) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of MultiversX (EGLD) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
EGLD/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of MultiversX (EGLD).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 52.65 | Strong Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 48.59 <50 = Low >50 = High | Low volatility |
Comparison of EGLD with BTC, ETH
Let us now compare the price movements of MultiversX (EGLD) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs EGLD Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of EGLD is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of EGLD also increases or decreases respectively.
MultiversX (EGLD) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of MultiversX (EGLD) between 2024, 2025, 2026, 2027, 2028, 2029, and 2030.
| Year | Bullish Price | Bearish Price |
| MultiversX (EGLD) Price Prediction 2024 | $115 | $32 |
| MultiversX (EGLD) Price Prediction 2025 | $120 | $30 |
| MultiversX (EGLD) Price Prediction 2026 | $125 | $28 |
| MultiversX (EGLD) Price Prediction 2027 | $130 | $26 |
| MultiversX (EGLD) Price Prediction 2028 | $135 | $24 |
| MultiversX (EGLD) Price Prediction 2029 | $140 | $22 |
| MultiversX (EGLD) Price Prediction 2030 | $145 | $20 |
Conclusion
If MultiversX (EGLD) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish MultiversX (EGLD) price prediction for 2023 is $103.88. Comparatively, if unfavorable sentiment is triggered, the bearish MultiversX (EGLD) price prediction for 2023 is $32.76.
If the market momentum and investors’ sentiment positively elevates, then MultiversX (EGLD) might hit $110. Furthermore, with future upgrades and advancements in the MultiversX ecosystem, EGLD might surpass its current all-time high (ATH) of $542.58 and mark its new ATH.
FAQ
1. What is MultiversX (EGLD)?
MultiversX (EGLD) is a blockchain project associated with the Elrond ecosystem, designed to offer decentralized and versatile applications and services.
2. Where can you buy MultiversX (EGLD)?
Traders can trade MultiversX (EGLD) on the following cryptocurrency exchanges such as Binance, OKEx, Bitfinex and BitMax.
3. Will MultiversX (EGLD) record a new ATH soon?
With the ongoing developments and upgrades within the MultiversX platform, MultiversX (EGLD) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of MultiversX (EGLD)?
MultiversX (EGLD) hit its current all-time high (ATH) of $542.58 on November 23, 2021.
5. What is the lowest price of MultiversX (EGLD)?
According to CoinMarketCap, EGLD hit its all-time low (ATL) of $6.54 on Oct 07, 2020.
6. Will MultiversX (EGLD) hit $110?
If MultiversX (EGLD) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $110 soon.
7. What will be the MultiversX (EGLD) price by 2024?
MultiversX (EGLD) price might reach $115 by 2024.
8. What will be the MultiversX (EGLD) price by 2025?
MultiversX (EGLD) price might reach $120 by 2025.
9. What will be the MultiversX (EGLD) price by 2026?
MultiversX (EGLD) price might reach $125 by 2026.
10. What will be the MultiversX (EGLD) price by 2027?
MultiversX (EGLD) price might reach $130 by 2027.
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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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