EGO (EGOUSD) Price Forecast: December 9
The EGOUSD price forms a bullish pattern and will surge with growing interest amid strong bullish market momentum. If the coin price could sustain above the pattern supply trend line at $0.037 value; the coin price may trigger up to the overhead resistance mark at the $0.040 level, indicating the potential for continued growth.
Key Levels:
Resistance Levels: $0.027, $0.028, $0.029
Support Levels: $0.013, $0.012, $0.011
EGO (USD) Long-term Trend: Bullish (Daily Chart)
The EGOUSD pair is increasing and forms a bullish pattern, preparing to grow more amidst market fluctuations in its higher time frame. The price is trading above the EMA-50, indicating an uptrend.
The bullish reversal at the $0.024 high value on December 3rd has sustained the crypto price to form a bullish pattern in its recent high.
After testing the lows at the $0.024 level, the bulls continue the journey up north to the $0.027 high mark as the daily session resumes today. The price of EGO bars is above the moving average lines, indicating the high impacts of the bulls on the crypto, thus a turnaround and more intraday gains for the coin buyers.
Thus, if the bulls breach the $0.037 peak barrier, the next resistance level to watch out for would be around the $0.40 level.
In addition, the EGOUSD price is pointing upward on the daily stochastic, indicating that the token price will continue to form a bullish pattern. As a result, a breakup of $0.037 and growth of the price to the resistance of $0.040 value in the nearby days is expected soon as it forms a bullish pattern in its medium-term time frame.
EGO (USD) Medium-term Trend: Bullish (4HChart)
Despite the interference of short-term traders, the medium-term forms a bullish pattern and shows a bullish race. The price of EGOUSD can now be seen progressing upward above the moving averages, indicating that buyers are currently gaining more strength.
The bulls’ pressure on the cryptocurrency to the $0.025 resistance level in the previous action has enabled the token price to form a bullish pattern and retain its upward growth.
Today, the bulls caused a rise to a $ 0.027 high level above the moving averages to resume its 4-hourly chart. From the look of things, it seems it will keep growing. Therefore, closing the 4-hourly session above the $0.036 previous accumulation zone will put the trade more on the buy side.
In addition, the EGO price is pointing upward on the daily stochastic, indicating that crypto might continue the bullish pattern. Hence, the next price target could be $0.40 in the coming days as it forms a bullish pattern in its medium-term time frame.
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