Most cryptocurrencies have retraced to support levels after an impressive rally in early December, creating potential buying opportunities for investors. Among dozens of promising projects, three prominent analysts are “keeping an eye” on MultiversX (EGLD) charts this week.
Namely, Lucky Luciano, a 2.5 million-follower “OG since 2015,” doubled-down on a previous EGLD trading plan, shared in October. On October 28, Lucky said he was “watching MultiversX chart very closely at these levels,” trading at $23.74.
Now, he again brought this cryptocurrency’s chart this week, celebrating a 100% profit and eyeing more growth up to $100 per EGLD, urging his followers to “keep [their] eyes on MultiversX.”
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His optimism on this project dates back to months ago when Finbold reported a “bullish outlook” for EGLD in August. “Incredible team, supportive community. EGLD has really been building constantly! Keep an eye on it!” Lucky said in a post.
Two other analysts who are watching MultiversX (EGLD)
Besides Lucky, EliZ and CryptoBusy are two other crypto analysts and traders who are closely watching MultiversX’s price charts. EliZ is a 500,000-follower Italian crypto trader and investor on X. CryptoBusy is a media company focused on crypto education, technical, and market analyses with 215,000 subscribers on YouTube and over 150,000 followers on X.
When asked about EGLD in a previous post, EliZ commented its one-hour chart was “not bad,” highlighting price support. The analyst’s traced support ranges from $45 to $46, with a potential deviation down to $43, before bouncing back up.
not bad $EGLD https://t.co/EGUrFpZq0O pic.twitter.com/3EyBjFbFEx
— EliZ (@eliz883) December 15, 2024
Meanwhile, CryptoBusy was looking to a higher time frame, highlighting a key resistance in the one-week (1W) price chart. This level acted as price support in the last bull cycle (2021), breaking out downwards during the 2022 bear market.
The analysts are keeping an eye on this key support/resistance (S/R) for a potential breakout to the upside. Besides this technical analysis, CryptoBusy has shared multiple fundamental insights about MultiversX, suggesting a solid basis for a sustainable growth.
MultiversX (EGLD) price and fundamental analysis
As of this writing, EGLD is trading at $44.14, up 46.85% in the last 30 days. The token is building support for its next leg up, according to analysts who are keeping an eye on it.
In the meantime, MultiversX has been consolidating itself with robust fundamentals in a highly scalable, decentralized, and secure blockchain. Recently, the network saw a massive account and transaction surge, up to over 6.5 million and 473 million, respectively.
The MultiversX Foundation has partnered with Alibaba Cloud for infrastructure solutions and Asian development events and hackathons. Moreover, Charles Hoskinson and Beniamin Mincu are exploring a Cardano-MultiversX collaboration in the US, bringing optimism to ADA and EGLD.
Featured image from Shutterstock.
