- EGLD rebounds 7% from intraday low of $14.30, closing near high at $15.33 with rising volume
- Bullish ABCD pattern completes on 4-hour chart with CD leg at 1.455 times AB leg length
- EMA-9 reclaimed at $15.20 as RSI climbs above 50, signaling early recovery momentum
EGLD/USDT exhibited a bullish ABCD harmonic pattern in a 4-hour chart on July 31, 2025. This trend indicates that there is a possibility of reversing the trend. There is symmetry to the ABCD form, where point D is finishing near a critical Fibonacci extension, helping to ensure the technical position. The AB leg retraced 62.6 percent of the previous uptrend, and the CD leg extended 1.455 times the AB leg, typical probabilities in harmonic patterns.
It has a price of 15.27, which is slightly higher than the 9-period EMA of 15.20. This moving average tends to bring out short-term reversals in the trend. Any form of bounce above it could show buyer strength returning. Nevertheless, the price has stayed below the 50-hour moving average at 16.28. Until such resistance is overcome, the medium-term trend is not so clear.
Volume analysis supports the bullish case. Buying activity increased sharply at the pattern completion point. This suggests a high probability of a short-term recovery as long as EGLD holds above the $15.00 invalidation level.
Intraday Performance on CoinMarketCap and 5-Minute Chart
EGLD traded as high as $15.35 and as low as $14.30 during the day. A V-shaped recovery lifted the price to $15.33 by the time of reporting. This recovery indicates strong intraday buying demand and aligns with the larger bullish setup observed in the 4-hour chart.
Sentiment information reveals that there were 86 percent bullish votes. The trading volume increased by 2.46 percent, and the market cap improved by 2.29 percent to stand at 436.78 million. The indicators signify increasing interest and market participation.
The price on the 5-minute chart is backed up by the technical indicators. The RSI is 52.97 and is an indication of positive momentum. MACD remains above the signal line, yet the histogram remains flat. Vital support stands at 14.30, and resistance is at 15.40 and 15.50
