Is EGLD Ready For a 40%+ Rally? Price Breakout Signals Bullish Momentum

The EGLD token has recently broken out of a descending wedge, a bullish signal for traders. This comes after a series of tests of key support near $13.50, ultimately leading to a breakout above the trendline and strong volume on the 12-hour chart. The measured target is around $19, signaling a potential 37% gain if this move continues. Traders are now eyeing a possible retest of the $13.80-$14 area as a buy opportunity. While market sentiment remains cautious with lower volume and liquidations, it’s crucial to hold above $13.70-$14 to sustain the momentum. A sustained push beyond these levels could signal a potential for a 40-45% rally for EGLD.