Elrond has been one of the most profitable altcoins to hold in 2020. We have seen one of the biggest rallies in Elrond price this year where it grew by more than 10X.
Once the supply ratio got adjusted and Elrond got renamed to Elrond Gold, we saw another rally from the low price of $6.00 to $42.00. The Elrond train is unstoppable. Elrond is an internet scale blockchain. It is a highly scalable, secure, and fast blockchain platform for distributed apps, enterprise use cases, and the new internet economy.
Elrond uses adaptive state sharding, which makes it highly scalable. It is built on proof-of-stake consensus, which makes it highly secure, and the introduction of WASM VM engine makes it developer friendly.
A digital wallet called Maiar, built using Elrond network, will be launched on January 31, 2021. This wallet will act as a global payments app where you can control your own money and be your own bank. It has multiple features like:
- Seamless Onboarding
- Social Payments
- News and Daily Digest
- Progressive Security
- Multiple Coins
- Earn and Staking
You can create your Maiar wallet anywhere without the need to remember a username, password, or phrase. This wallet will be directly linked to your phone number. Sending money will be as easy as sending a message.
With this new upcoming launch, EGLD is looking good fundamentally. Now let us perform a technical analysis on EGLD to predict its price.
EGLD – Price Prediction
EGLD is currently approaching the resistance of $41.76, which is at fib level 1. If EGLD manages to break this resistance and flip it to support, we could start seeing a move towards fib levels 1.618 and 2.618 at $55.36 and $77.38, respectively. Failure to break the resistance at $41.76 could lead to a drop towards $37.05, $31.23, and $25.63.
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