Elrond [EGLD] recently adopted its “new internet” blockchain mission by partnering with Opera. Daniel Serbianhead of business development for Elrond, released a pronunciation with the same connection. He stated that the partnership was a step to allow users of the multi-platform browser to access its blockchain and decentralized applications (DApps).

In addition, the partnership would allow Opera to integrate a non-custodial wallet through the EGLD chain. Interestingly, Elrond became the ninth blockchain added by Opera. The will of polygon [MATIC]and Solana [SOL] had previously joined the crew.

Elrond, 91.22% below the All-time High (ATH), appeared to respond positively to the development. Based on information from CoinMarketCapEGLD was up 3.48% since the news broke.

Is it finally time for a win?

While a price increase could be positive for investors, things didn’t go quite well for EDLG. The aforementioned price tracking platform showed that the 24-hour trading volume of EGLD had fallen by 28.26%.

On the charts, investors’ belief in EGLD didn’t seem solid enough. Based on the Chaikin Money Flow (CMF), EGLD was at a low level of -0.08. This indicated that investors were going back to pumping large sums of money into the EGLD ecosystem.

Source: TradingView

Unlike the CMF, the Moving Average Convergence Divergence (MACD) indicated that EGLD could maintain current bullish characteristics. According to the MACD signals, the strength of the buyers (blue) was much greater than that of the sellers (orange). For this reason, the MACD was on the positive side at 0.18.

In addition, these conflicting indications could mean that EGLD’s current position could go either way. As for the exponential moving average (EMA), the short-term and long-term projections have been on opposite sides. Based on the 4 hour chart, the 50-day EMA held a position above the 20-day EMA. The recent rise may therefore be short-lived.

Per the longer time frame, investors who wait can enjoy the dividends of patience. This is because the 200 EMA was solid above both the 20 EMA and the 50 EMA.

On-chain stats

Elrond went in the chain and seemed to have improved. According to Holiness, the volume of EGLD had increased from 33.95 million on September 21 to 42.91 million at the time of going to press. Likewise, NFT activity has also been relatively impressive lately. While total NFT volume was only $185,000 as of September 21, it was worth $612,000 at the time of writing.

Source: Santiment

This post EGLD investors can finally win, is Elrond’s latest development the reason

was published first on https://ambcrypto.com/egld-investors-may-finally-get-a-win-is-elronds-latest-development-the-reason/


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