A little while ago I made an analysis on EGLD and the long-term bullish channel it was trading in. Since my last analysis last week, EGLD has gained over 20% and is one of the major gainers of the current market.

I’m making this post to inform you that we’re closing in rapidly on the $200 resistance area . This area is a previous local top, as well as an important round number. Expect traders to take profits, which will lead to a reduction in value.

The bounce down after hitting $200 might be a good time to load up in case you’re planning to DCA . Keep an eye on the overall market.

Long-term target is still the top of the channe.

Happy trading!