Elrond Cryptocurrency Almost Doubled in Price

August 21, 2019 12:49 AM UTC

Elrond is a cryptocurrency and network that offers a really high performance, as well as near instant transactions. They recently held an IEO on the Binance Launchpad platform.

ERD/USDT is currently trading at $0.0035 but it was only worth $0.0022 three days ago. This is one of the biggest surges in price recently and we are seeing even more continuation today. The first candlestick was about a 25% increase and the second a 21%

The daily EMA’s are looking for a bullish cross and the price is now trading way above both of them. ERD was in a pronounced daily downtrend and the RSI is still not close to overbought.

The 4-hour chart has now formed a nice bull flag although the RSI is overextended there. The EMA’s have crossed bullish on the 4-hour and the price is now trading a lot higher.

Although this is a nice move, ERD has experienced similar moves a month ago. In July, ERD increased 50% in price in just 1 day an another 19% the next day so the investors are certainly not surprised by the recent move.

This is however, the first time ERD actually creates a daily uptrend, what are we going to see from here? Perhaps an all time high is coming soon, we really don’t know but it’s looking good.

 

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