Bybit Supports MultiversX EGLD Network Upgrade
MultiversX Upgrade Overview: The MultiversX network is undergoing a v1.8.12 upgrade aimed at enhancing efficiency and scalability, with support from Bybit and expected completion by March 2025, which has garnered investor interest.
Market Impact and Future Prospects: Following the upgrade announcement, the EGLD token saw a 7.38% increase in value, and experts predict that improvements in transaction speed and user engagement could strengthen MultiversX's competitive position in the blockchain market.
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Technical Analysis for EGLD
Technical Sentiment Analysis for MultiversX (EGLD) As of , MultiversX (EGLD) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for EGLD stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, EGLD is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
MultiversX (EGLD) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 2.171 | 2.925 | 3.821 | 4.575 | 5.471 | 6.225 | 7.121 |
| Fibonacci | 2.925 | 3.556 | 3.945 | 4.575 | 5.206 | 5.595 | 6.225 |
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