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Million

MultiversX

Coin

<ul class="list-ic vertical">
 <li><span>1</span> <a>The MultiversX coin price decreased by 6.27% over the last week and is trading below major EMAs.</a></li>
 <li><span>2</span> <a>The price of the EGLD coin is trading at $22.90 and the 52-week trading range is between $22 – $64.</a></li>
</ul>
<p>MultiversX (EGLD) is a layer-1 blockchain project that wants to give a scalable and developer-friendly platform for decentralized applications (DApps). The project has shared many updates and achievements in the last week.</p>
<p>One of the big updates is the launch of a protocol governance forum, where the MultiversX community can talk and suggest changes to the network depending on parameters, features, and upgrades.&nbsp;</p>
<p>Besides the launch of the forum, the project also celebrated its environmental sustainability, as it says it uses 1000 times less energy than Bitcoin and 10 times less than Ethereum. Moreover, the project also supports carbon offsetting initiatives and wants to become carbon-negative.&nbsp;</p>
<p>In addition to the celebration of its sustainability, the project also reminded its followers that the early bird tickets for the xDay event, which will happen in Lisbon, Portugal from November 7th to 10th, will end in two days. The xDay event is a chance for the MultiversX community and ecosystem to meet, learn, network, and have fun.&nbsp;</p>
<p>Lastly, the project shared its weekly technical updates such as the progress on the Maiar Exchange, the Maiar NFT Marketplace, and the MultiversX Bridge. Furthermore, the project also announced new partnerships and integrations with other platforms and projects.</p>
<h2 class="wp-block-heading" id="strong-egld-coin-price-technical-analysis-in-the-1-day-timeframe-strong"><strong>EGLD Coin Price Technical Analysis in the 1-Day Timeframe</strong></h2>
<p>MultiversX (EGLD) has a maximum market cap of $721,374,076, which is the fully diluted valuation (FDV) of the cryptocurrency. This is based on the assumption that all 31 Million EGLD tokens are circulating in the market today.&nbsp;</p>
<p>However, the actual number of EGLD tokens in circulation may be lower, depending on how the EGLD tokens are emitted over time. Therefore, it may take several years before the FDV is achieved.</p>
<p>EGLD crypto plummeted by 5.32% in market value but surged 88.70% in trading volume in the last 24 hours, as per Coinmarketcap which is a crypto data and info website. Its market value is $599,236,759 and its trading volume is $13,892,798. There are 26,061,092 EGLD in circulation.</p>
<p>MultiversX(EGLD) open interest is $14.71 Million, as per Coinglass, which is a crypto analysis website, it fell by 1.67% in the previous session. The long versus short ratio for 24 hours is 0.9369. The total number of short positions added in the last 24 hours is zero against longs of $93,925.035.</p>
<p>EGLD has not shown good performance this month, as it fell by 5.86% in a month and by 43.44% in the past six months. The year-to-date return of EGLD price is negative with a 29.94% decline.</p>
<p>Therefore, the EGLD price could continue to move downwards and form new support at $20 and $15 if it fails to maintain the current level.</p>
<p>However, if the EGLD price sustains the current level and rises above the previous swing high, then it might hit and reclaim previous resistance levels of $25 and $30.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1141" height="637" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-299.png" alt="MultiversX 2023: Can EGLD Boost Upward By Upcoming XDay Event?" class="wp-image-174901" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-299.png 1141w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-299-300x167.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-299-1024x572.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-299-768x429.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-299-750x419.png 750w" sizes="(max-width: 1141px) 100vw, 1141px">
  <figcaption class="wp-element-caption">
   Source: EGLD/USD.1D.BITFINEX by TradingView
  </figcaption>
 </figure>
</div>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1433" height="637" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-300.png" alt="MultiversX 2023: Can EGLD Boost Upward By Upcoming XDay Event?" class="wp-image-174902" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-300.png 1433w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-300-300x133.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-300-1024x455.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-300-768x341.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-300-750x333.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-300-1140x507.png 1140w" sizes="(max-width: 1433px) 100vw, 1433px">
  <figcaption class="wp-element-caption">
   Source: EGLD/USD.1D.BITFINEX by TradingView
  </figcaption>
 </figure>
</div>
<p>At the time of publishing, <a href="https://www.thecoinrepublic.com/2023/09/23/multiversx-crypto-egld-price-in-seller-hand-targeting-20/" target="_blank" rel="noopener noreferrer nofollow">MultiversX</a> (EGLD) is trading below the 20 and 50-day EMAs (exponential moving averages).&nbsp;</p>
<p>The MACD line at 0.48588 and the signal line at 0.33124 are below the zero line. Both lines cross each other showing a bearish crossover is observed in the MACD oscillator where the histogram width is lean; indicating price consolidation or trend continuation.</p>
<p>The current value of the RSI is 37.56 points and the 14-day SMA is below the median line at 45.40 points, showing the curve is taking resistance from 14 SMA.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>EGLD price highlights the neutral to bearish sentiments and perspectives of investors and traders regarding the coin in the daily time frame. The technical parameters of the EGLD price suggest the <a href="https://www.thecoinrepublic.com/2023/09/23/multiversx-crypto-egld-price-in-seller-hand-targeting-20/" target="_blank" rel="noopener noreferrer nofollow">continuation</a> of the bearishness over the daily time frame chart. Moreover, EGLD price action highlights a bearish to consolidation view at the time of publishing.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support levels: </strong>$20 and $15</li>
 <li><strong>Resistance levels: </strong>$25 and $30</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

MultiversX 2023: Can EGLD Boost Upward By Upcoming XDay Event?

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