$EGLD experienced a long liquidation near $5.96, indicating exhaustion after a failed continuation attempt and clearing overleveraged longs. Primary support is now positioned at $5.55–$5.65, a zone where buyers must defend to avoid deeper downside. Holding this region allows price to base. Immediate resistance stands at $6.30, followed by a stronger supply zone near $6.85. A clean reclaim above resistance would activate the next upside target at $7.60, with extension toward $8.40 if momentum returns. Failure to hold $5.55 would weaken structure and expose $5.10 as the next downside liquidity pocket. Structure favors consolidation before any meaningful recovery.
EGLDUSDT
Perp
4.849
+2.73%