Stephen bullish on EGLD: $240 target sooner than expected?

EGLD has been on a bearish run for a long time. However, Stephen S., a notable crypto enthusiast, believes that EGLD has finally hit the bull run. It is fundamentally backed by a strong TPS of 100k+. Moreover, MultiversX did study the drawbacks of Bitcoin and Ethereum so as to solve them effectively. These pertain to speed, user experience, and scalability.

MultiversX has dealt with all of them to come up with a global standard in all the said aspects. Not that EGLD has never grown in numbers. For instance, the DEX launch marked an uptick of 8590%, taking the figures from $6.45 to a much higher milestone. Similarly, the Mainnet launch drew a surge of 7339%, taking the number from $0.54 to $40.17.

Stephen highlighted that it happened for the first time when EGLD saw a bullish cross on the Moving Average Convergence Divergence indicator. If anything, Stephen has asked the community to brace up for the next milestone of $240. While a tentative timeline has not been talked about, it is speculated that the milestone could come earlier than expected.

Also, Stephen has kept the doors open for volatility. Per his Bollinger Bands, banks are tightening to indicate that there could be a lot of fluctuations on the graph. EGLD is currently down by 0.44%, listed at $68.90 at the time of writing this article. A rise to $240, according to any EGLD price prediction, is massive. Considering there is a possibility of an early achievement, the token is more worthy of a buy.

Presently, the decline is relatively insignificant, as it signifies an increase of 25.43% over the past 30 days and 19.30% over the past week.

The price is expected to shoot up magically based on the user experience and scalability. In the future, new users will begin to gravitate toward the ecosystem that provides them with the optimal experience, often without their awareness that they are capitalizing on the potential of blockchain technology. In the near future, xPortal and xExchange may receive milestone enhancements. This would set off the earliest phase of immersive UX. As a result, the price rose sharply.

Moving forward, MultiversX is looking to launch Sovereign Shards. They have been defined as game-changers and recognized as a technological update aiming to improve flexibility, scalability, and interoperability. Sovereign Shards break down the blockchain into smaller pieces so that it is convenient to manage them. If implemented, they will pose a significant advancement in blockchain technology. Their introduction would help drive adoption by adding more ecosystem developers and users.

Members of the community said that all of it sounded fancy except for the fact that other blockchains better do adoption via NFT. This is a potential hint that EGLD will continue to derive power from speed, cost, and security until it figures something out for NFT.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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