How High Will EGLD Go?

The projects based on Defi have undergone a sustained skyward move. As traders are always on the look out for a more quick, secure, and scalable platform. Elrond emerges as one of the top picks, which aims to revolutionize the space with its DEX.

The unique protocol’s native asset EGLD has seen dramatic growth over the years. As it is a highly scalable, fast, and secure blockchain platform for distributed applications. It provides high-level interoperability with fast execution speeds compared to other smart contract platforms.

Amazed by the short piece of introduction? Are you on the edge of learning about the prospects of the asset. In this article, we will thoroughly discuss Elrond’s price prediction for 2023 – 2025 and the years to come.

Overview

Elrond Price Prediction 2023

The coin has been trading in a descending channel since the month of February. Elrond has made multiple attempts to break out the channel but failed as the bulls are unable to gain power resulting in the coin constantly losing its value.

The RSI continues to hover around its halfway since mid-September indicating a weak buying and selling power. Moreover, the charts display a bullish convergence indicating the possibility of the price to further gain value in the coming month. On the other hand, the MACD displays massive green histogram in the month of September indicating a significant price action.

Initiating the year on a bullish note could help the altcoin set a new benchmark. With certain partnerships and developments of its protocol. The price might reach newer heights of $48.31.

Falling prey to bearish trends, the token may decline to the $19.27 mark. Collectively, considering the bullish and bearish targets, EGLD might trade at an average price of $33.79.

Elrond Price Prediction 2023 – 2030

EGLD Price Prediction 2024

The year 2024 is anticipated to be bullish for the crypto industry, as it marks the year of Bitcoin’s halving. If the crew behind Elrond, make hay while the sunshines with developments, and community-building events. The price of EGLD might catapult to its potential high of $62.55. 

Contrarily, if the business comes across regulatory constraints, EGLD’s price might slump to the lows of $35.62. That being said, the average price might revolve around the $49.08 mark. 

Elrond Price Prediction 2025

On the road to 2025, EGLD might concentrate on enhancing the scalability and interoperability of the platform. And the price is expected to rise high if the community succeeds to provide the requisite updates and developments.

It might even compete with other altcoins platforms in terms of transaction speeds. In such a scenario, EGLD’s price might soar to a maximum of $87.93.

Conversely, the currency may sink around the $51.14 mark, if the market continues to remain volatile for a longer period of time. Nevertheless, constrained by a linear momentum, with the lack of any propelling events, EGLD’s price might settle at $69.53.

Elrond Price Prediction 2026

According to our analysts, Elrond Crypto Price for the year 2026 could range between $65.99 to $118.18 and the average price of EGLD could be around $92.08.

Elrond Price Prediction 2027

According to our analysts, EGLD Crypto Price for the year 2027 could range between $91.26 to $145.20 and the average price of Elrond could be around $118.23.

Elrond Price Prediction 2028

According to our analysts, EGLD Crypto Price for the year 2028 could range between $120.20 to $163.83 and the average price of Elrond could be around $142.01.

Elrond Price Prediction 2029

According to our analysts, EGLD Crypto Price for the year 2029 could range between $144.38 to $187.34 and the average price of Elrond could be around $165.81.

Elrond Price Prediction 2030

According to our analysts, EGLD Crypto Price for the year 2030 could range between $179.66 to $211.06 and the average price of Elrond could be around $195.36.

Market Analysis

*We have made a table that includes the possible price prediction for the same token made by other crypto analysts on their respective platforms. The targets mentioned above are the average targets set by the respective firms.

CoinPedia’s Elrond Price Prediction 

Elrond price with certain variations might escalate higher if the community enters into strategic partnerships with certain projects.

As per CoinPedia’s formulated Elrond price prediction, the token may surge to a maximum of $48.31, by the end of 2023. That said, the digital asset falling prey to negativity, could drag the price down to $19.27.

Fundamental Analysis 

The network’s main aim is to eradicate drawbacks found in some of the blockchain projects. Like full decentralisation, cross-chain interoperability, robust security, and high scalability. The project specifies itself as a technology ecosystem for the new internet including fintech and decentralized finance. Its native token eGold or EGLD is used for paying network fees and rewarding validators.

Founded by Beniamin Mincu, Lucian Mincu, and Lucian Todea. The platform encourages developers to build on it and provides 30% of the smart contract fees as royalties. The company also maintains a specified supply of ELGD tokens, which are staked on its network since the first year. The validator nodes also receive a 36% annual rate.

What Is Elrond?

Elrond platform being a blockchain protocol seeks to provide fast and secure transaction speeds by using sharding. The network’s smart contracts execution platform has the potential to handle 15,000 transactions per second. The Elrond blockchain has its own native token named as eGold or EGLD.

Which is utilized to pay network fees, reward network validators, and staking. Elrond works on a Secure Proof-of-Stake consensus mechanism. In which the nodes must stake their EGLD tokens to participate in the validation process. According to its whitepaper, it intends to develop its ecosystem and establish Elrond as a store-of-value asset.

Historical Market Sentiments 2020 – 2022

• Elrond entered the crypto space on the 05th of September, with a trading value of $17.33. The price started to variate and dropped to $10.11 by the end of September. 
• Further, the coin declined to as low as $7.83 by mid-October. Elrond escalated dramatically and hit $29.26 in December.  
• EGLD entered the year 2021 with a trading value of $24.80. An upward trajectory helped Elrond rise to around $227 in April. The market crash on May 19th led to EGLD’s price drop from $239.45 to $59.45 on 22nd July 2021. 
• The price regained a bullish momentum in the month of September and hit a new ATH of $280.96 on the 14th.
• The price skyrocketed to an ATH of $542.58 on 22nd November. However, bearish trends closed the year at $190.

CoinPedia has dedicated a team of expert analysts to cover the possible crypto price prediction and sum it all up in one place, just for you!

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