Elrond Price Prediction – Will EGLD Price Hit $400 in 2021?

This Elrond (EGLD) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our EGLD price analysis and prediction.

Among the cryptocurrencies that are spiking high this year, EGLD is perhaps one of the most surprising for some. It is not directly connected to the crypto king Bitcoin, nor is it the most hyped digital currency today. But for those that are aware, EGLD has been around since 2020.

Can EGLD reach $400 in 2021? We will find out shortly. But before we proceed to our EGLD price prediction, let us first answer the question “What is Elrond (EGLD)?” in this EGLD price prediction 2021 article.

What Is Elrond (EGLD)?

The digital asset Elrond (EGLD) is one of the most active cryptocurrencies in the crypto space that is making noise. As a result, investors all over the world are now closely monitoring the cryptocurrency.

In terms of technology, EGLD enables developers, validators, and businesses to build a new internet economy. In this way, the users of the network can benefit from the platform’s great features such as massive scalability, high level of security, and developer friendly ecosystem.

Now that we are knowledgeable about the EGLD crypto and its technology, let us now move to the price prediction. In addition to price prediction, join me as we analyze the market direction of EGLD in the days ahead.

EGLD Current Market Status

As of the time of writing this Elrond price analysis, EGLD trades at $256.88 with a 24-hour trading volume of $513,953,848. The price of EGLD has increased by 9.51% in the last 24 hours.

Furthermore, EGLD has a current circulating supply of 19,430,212.70 EGLD. For traders and investors interested in EGLD, crypto trades at exchanges such as Binance, OKEx, FTX, Crypto.com, and HitBTC Exchange. Of course, these are just some of the many exchanges that the crypto is listed at.

Now, let’s proceed to the next part of this EGLD technical analysis for 2021.

Elrond (EGLD) Price Analysis 2021

Currently, Elrond holds the 35th place on CoinGecko. But will the latest upgrades, developments, and changes in the EGLD blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this EGLD price prediction article.

Based on the chart above, Elrond positions itself along with the raging bulls. Today, EGLD trades at a high price of $256.88 with a 7 days increased rate of +54%.

In addition, we can see that Elrond recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. In addition, this pattern represents a short-term bullish.

The Relative Strength Index (RSI) is close to 80, which means that EGLD is nearly overbought state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of EGLD.

Since the start of 2021, EGLD ’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, EGLD has a competitive market this 2021.

Elrond (EGLD) Price Prediction 2021

The chart below shows that Elrond has performed great over the past few days. Moreover, the EGLD price over 54% in the last 7 days. If this trend continues, EGLD might run along with the bulls, overtaking its $376 resistance level and reach higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone EGLD from its uptrend position. In simpler terms, the price of EGLD might surge to almost $137, a bearish signal.

Meanwhile, our long-term EGLD price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $266.76 this year. However, that will only happen if it breaks many previous psychological resistances.

Elrond (EGLD) Price Prediction 2022

If this bullish trend continues, EGLD will reach $450 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $500. Then the rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $450 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Elrond (EGLD) Price Prediction 2023

If Elrond holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $700, making it not plummet but play consistently.

Elrond (EGLD) Price Prediction 2024

As per the latest upgrades, developments, Elrond price prediction, and new project forecasts of the platform, Elrond investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of Elrond in the crypto market, and it will be the best investment as the price can spike and reach around $850.

Elrond (EGLD) Price Prediction 2025

In the next four years, EGLD prices could race up to $950. However, reaching this level could not be so difficult for EGLD as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that EGLD has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Elrond has a bright future ahead of it in 2021. With the ongoing developments happening within the EGLD ecosystem, as well as in the overall crypto market, we may see EGLD reach new heights.

Bullish EGLD price prediction 2021 is $373. However, it may even reach $400 if investors have decided that EGLD is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies. 

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