EGLDUSD – Heavily Correlated to Ethereum

EGLD / US Dollar (calculated by TradingView) BINANCE:EGLDUSD

Bixley

Many similarities are drawn in both charts
A large up channel , that so far hasn’t broken
Two bottoms along this channel
Top points in relatively similar positions on both charts
A flat 200MA

This could be a sign that coins like EGLD are less correlated to BTC but more to ETH

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