Elrond became one of the coins that attracted attention in the market with a bullish rally in May. Currently, ERD ranks 62nd with a market value of $134.2 billion, according to CoinMarketCap. Altcoin accelerated its rise against both USDT and BTC, especially in early July.
Positive news from Elrond and the launch of staking have a positive effect on its price. ERD, which has peaked with 122 sats against BTC today, also saw $0.0112 against the dollar.
ERDBTC, which has been rising almost without correction since the beginning of July, can see a decline from today’s peak level (122 sats) to 94 sats if the bears take control. According to the final bottom and peak price, the bulls’ staging at $94, which corresponds to the value of Fib 0,386, may allow the price to break the 122 sats peak. The correction may also stop at 106 sats this time if this aggressive growth continues.
If the bears start to control the market and 94 sats support is broken, 76 sats seem to be important. In the medium term, 64 sats seem to be the last support point for ERDBTC.
Elrond, which has been listed in Binance for nearly a year, had not exceeded 36 sats until July. Now, ATH continues to refresh every day.
ERD, which draws a similar graph against the dollar, has now exceeded 1 cent. In a possible decline, the following support levels should be considered for ERDUSDT, respectively: $0.009620 – $0.008625 – $0.007.
Latest Elrond News
The most exciting news of the Elrond community last week was the announcement of the history of Mainnet. According to the announcement, Elrond Mainnet will start on July 30. Various collaborations are also expected to be announced in July.
In addition to this development, the announcement of the Genesis staking program last week was met with enthusiasm among investors. These developments reflected positively on the ERD price, causing the cryptocurrency to gain more than 60 percent against BTC and USDT since the beginning of July.
It was also noteworthy that the ERD token gained more than 180 percent in June.