- Elrond journey of breaking barriers in July has been a success; eyes now on $0.20.
- MoonPay integrates Elrond, supporting Visa and Mastercard purchases in over 162 countries.
After taking down the resistance at $0.0060 at the beginning of July, Elrond has sustained consistent gains. The journey of breaking barriers is nothing but a success story. Moreover, the price has maintained the ground above both the 21 EMA and the 50 EMA. The 21 EMA continues to widen the gap above the 50 EMA in support of the ongoing bullish action.
At the time of writing, ERD/USD is trading at $0.0168 (on Binance) following a 17% rally in the last 24 hours. As Elrod moons, the majority of assets in the cryptocurrency market are in consolidation led by the major coins like Bitcoin, Ethereum and Ripple.
The price action actin is expected to hold above the short term initial support at $0.016 before spiking upwards to take down the seller congestion zone at $0.018. Bulls are slightly in control following the upward movement of the RSI above the average (50). The momentum is emphasized by the MACD currently holding the ground within the positive territory. A bullish divergence above the MACD is likely to draw more attention to ERD as it targets $0.02 in the near term.
ERD/USD 4-hour chart
MoonPay integrates Elrond for payments in 162 countries
ERD, the native token of the Elrond network now has support on MoonPay. This support will see ERD purchases done via both Visa and Mastercard in over 162 countries. MoonPay, currently supports payments on platforms such as Apple Pay, Samsung Pay, bank transfer and Google Pay. A statement by Elrond CEO, Beniamin Mincu in regards to the support said:
Convenience is the key that will lead to unprecedented growth for the Elrond ecosystem. Direct access to 100+ fiat on ramps, DeFi and Staking products on the Elrond network will soon be possible for first-time users, from their phones. This changes everything.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Avalanche rallies following launch of incentive program for developers
Avalanche announced the launch of Retro9000 on Thursday as part of its larger Avalanche9000 upgrade. Retro9000 is a program designed to support developers with up to $40 million in grants for building on the Avalanche testnet.
Ethereum could retest $2,707 resistance following increasing ETF inflows and uptrend in funding rates
Ethereum traded around $2,640 on Thursday, up more than 2% following increased bullish bias among investors, as evidenced by ETH ETF net inflows and an uptrend in funding rates.
Ethena Labs launches new UStb stablecoin backed by BlackRock's BUIDL token
Ethena Labs announced on Thursday that it has released a new stablecoin product, UStb. The new stablecoin will be fully collateralized by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) and function similarly to a traditional stablecoin.
Crypto Today: Bitcoin, Ethereum and XRP trade in the green as crypto lost to hacks and fraud plunge by 40%
Bitcoin has moved above the $65,000 psychological level after flipping a key resistance, XRP sees a slight 1% gain. Ethereum trades around $2,650, up over 3% in the past 24 hours, as it attempts to tackle the $2,707 key resistance.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.