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- The fear and greed index for the MultiversX token has declined to 17.
- In the last 30 days, the EGLD token has been traded in green for only 8 days.
The sentiment of the MultiversX token was bearish, as per the analysts. The fear and greed index also indicated extreme fear among the traders.
At press time, 86.8% of the token’s maximum supply has circulated in the market. This resulted in a market cap value of $741.147M, which advanced by 11% in the last 24 hours.
Despite this, a decline of 10.2% in the value of the traded volume was recorded, resulting in a traded value of $44.039M. This showed a medium liquidity in the token price followed by a volume/market cap ratio of 6.21%.
The fully diluted market cap of MultiversX was worth $854.515M, followed by a maximum supply of 31.415M EGLD. The token price was highly volatile, resulting in a volatility of 8.85%.
The MultiversX token had a total of 3.808M holding addresses. Also, a consistent surge in the number of token holders was recorded over the last few months.
It showed a rise in the investors’ confidence in the future performance of the EGLD token price.
MultiversX Token Derivatives Data Analysis
When writing, the derivatives traded volume of the token witnessed a decline of 24% in the last 24 hours. It resulted in a traded value of $54.70M while the token’s open interest advanced by 5.9%.
The token’s liquidation chart further showed higher longs liquidated in the last few days. It showed the dominance of sellers in the token price.
Despite this, the longs and shorts worth an equal amount were liquidated in the last 24 hours. It showed uncertainty and volatility in the token price.
Also, the MultiversX open interest surge showed an advance in the token’s open positions.
EGLD Token Technical Analysis
The EGLD token price followed a strong downtrend over the last four months. This led the price to decline to significant lows and also caused a bearish sentiment in the price.
In the middle of March 2024, the EGLD token formed a swing high of $80.85. Since then, the price has consistently declined. The decline in the token price further led to a strong downtrend, followed by a lower low swing.
Following the recent price action, the EGLD token traded in a falling wedge pattern. It hit the lower band of the same.
Suppose the token price rebounds from the same level and breaks above the falling wedge pattern, we might see a strong surge in the future.
EGLD Token Technical Indicator Analysis
The 50-day and 200-day EMAs traded in a death crossover for a long time. Moreover, it declined below the same. This exhibited a strong downtrend in the EGLD token price.
EGLD/USD Chart by TradingView
The MACD and the signal line traded in a death crossover, and both metrics declined to negative territory. Bearish histograms on the chart further followed this.
The RSI also exhibited bearish behavior, declining below the 14-day SMA and dropping to the oversold zone.
The support levels for the EGLD token price are $18.00 and $22.00, followed by the resistance levels of $45.0 and 57.0.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
