EGLD Spikes on Coinbase Listing Announcement

EGLD, the native cryptocurrency that powers the MultiversX (formerly known as Elrond) blockchain, surged 5.0% on Tuesday on the news that Coinbase would list EGLD for trading as of today (Wednesday the 7^th of December). The cryptocurrency was at one point up as much as 6.5% in the $46.50 per token area versus its pre-Coinbase listing announcement levels under $44.0.

Coinbase will add support for MultiversX (Previously Elrond) (EGLD) on the MultiversX network. Do not send this asset over other networks or your funds may be lost.

— Coinbase Assets (@CoinbaseAssets) December 6, 2022

EGLD has since fallen back to trade around $44.50 on Wednesday and is still up nearly 2.0% versus pre-Coinbase listing announcement levels on optimism that the listing will result in increased demand for the token. However, on the day, EGLD is now trading about 2.0% lower, amid apparent profit-taking.

Price Prediction – EGLD to Continue Trending Higher?

EGLD’s fall back into the mid-$44.00s from yesterday’s multi-week highs in the $46.00s means that the cryptocurrency has for now failed in its efforts to push sustainably back to the north of resistance in the $45 area in the form of the late-September lows. However, shorter-term technicals suggest EGLD’s near-term bullish prospects remain intact.

EGLD is arguably still moving higher within the bounds of a bullish trend channel. That may give the cryptocurrency the bullish momentum it needs to muster a push above $45 resistance. A break above $45 would open the door to a swift run higher towards the next key resistance area around $50, which is where a mid-October low and the 50 and 100-Day Moving Averages reside.

For what it’s worth, a popular crypto predictor bot that gives cryptocurrency price forecasts based on historical data predicts that, over the next week, EGLD is likely to climb back towards the $45 area and stay within a $41.50 to $47ish range.

Dash 2 Trade (D2T)

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IMPT

Amid the growth in popularity in recent years of environmentally and socially friendly investments, investors looking for a green cryptocurrency should consider the IMPT token. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprints and allows users to trade carbon credits on the blockchain.

IMPT tokens are currently in their second stage of the presale with IMPT having raised over $14.7 million. That amounts to $300K in token sales in just the last 24 hours. Investors only have another four days to purchase tokens at the current discounted price of $0.023. IMPT token exchange listings begin in seven days.

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