MultiversX (EGLD) Price Prediction 2024-2030: Will EGLD Price Hit $100 Soon?

• EGLD’s 2024 forecast anticipates a modest high of $34.27, reflecting steady near-term growth.
• By 2030, EGLD’s price could surge to $498.28, highlighting its long-term growth potential.
• 2032 projections for EGLD suggest a maximum of $1063.36, indicating strong upward momentum.

MultiversX, previously known as Elrond, is a blockchain platform that launched on July 30, 2020. This innovative platform was designed to achieve high scalability and speed through its unique Secure Proof of Stake (SPoS) consensus mechanism. The core idea behind MultiversX is to provide a high-throughput blockchain that can serve as the backbone for a new internet economy, supporting everything from decentralized applications (dApps) to enterprise-level solutions.

Renamed to MultiversX in November 2022, the platform expanded its vision to include not just high-speed transactions but also to foster an entire ecosystem encompassing metaverses and decentralized, user-centric finance. This rebranding reflects its broader ambition to be at the forefront of the convergence between blockchain technology and virtual environments, aiming to create a fully integrated digital economy.

The native token of MultiversX, EGLD, formerly known as ERD, plays a central role in the network’s economy. It is used for transactions, staking, and governance, allowing holders to participate in the decision-making process and secure the network. 

MultiversX (EGLD) Real Time Market Status

What is MultiversX (EGLD)?

MultiversX (EGLD) is the native cryptocurrency token of the MultiversX blockchain, a platform designed for high scalability, speed, and broad application use, from decentralized apps to enterprise solutions. 

The EGLD token is integral to the functioning of the MultiversX ecosystem, serving as the primary medium of exchange, a means of transaction fee payment, and as a reward currency for various network activities.

EGLD also plays a crucial role in the network’s security and governance. It is used in staking mechanisms where token holders can stake their EGLD to participate in the network’s Secure Proof of Stake consensus process. This staking contributes to the security and integrity of the network, as participants help to validate transactions and maintain the blockchain’s operation.

Additionally, holding EGLD tokens enables users to participate in the governance of the MultiversX network. This includes voting on proposed changes to the software, such as upgrades and modifications, ensuring that stakeholders who are invested in the network have a say in its development and future direction. 

MultiversX (EGLD) Market Status

Over the past seven days, the price of Elrond (EGLD) has experienced a notable upward trend, increasing by 7.41% to reach $32.13. This surge began after the price hit a low of $29.914 on June 27, followed by a period of volatility. Despite fluctuations, the price eventually rose sharply around July 1, peaking at $32.1, which reflects a significant market recovery and investor confidence.

Additionally, the market cap of Elrond has increased by 2.43%, reaching $871,822,826, indicating a positive market sentiment. The trading volume over the past 24 hours also saw a substantial rise of 5.56%, totaling $44,861,252. This increase in trading activity highlights heightened investor interest and potential buying pressure contributing to the recent price surge. The volume-to-market cap ratio of 5.14% further underscores the active trading environment for EGLD.

Furthermore, Elrond’s circulating supply stands at 27,136,197 EGLD, which is 86.38% of its total supply of 27,141,349 EGLD. This relatively high circulation rate suggests a mature and well-distributed token ecosystem. The volume cap ratio, reflecting the proportion of the market cap traded in a day, supports the notion of robust market liquidity and engagement.

MultiversX (EGLD) Price Analysis: Moving Average Convergence Divergence (MACD)

The MultiversX (EGLD) 4-hour chart displays a MACD indicator with a current reading of 0.58 for the MACD line and -1.27 for the signal line. This setup indicates a bullish crossover, where the MACD line surpasses the signal line, suggesting an upward potential in the short term. 

Additionally, the increasing gap between the MACD and its signal line enhances the bullish signal strength.

Moreover, the histogram, representing the difference between the MACD and signal lines, shows positive values, reinforcing the potential for continued upward movement. However, traders should monitor for any signs of a reversal, especially if the MACD starts to decline towards the signal line.

MultiversX (EGLD) Price Analysis: Bollinger Bands

The Bollinger Bands on the 4-hour chart of MultiversX (Elrond) indicate significant price movement and volatility levels. The upper band stands at 33.13, the middle (or the 20-period SMA) is at 30.49, and the lower band is at 27.85. Recently, the price touched the upper band, signaling potential overbought conditions which could result in a retracement or consolidation.

Subsequently, the price has pulled back towards the middle band which often serves as a pivotal point for price support in an uptrend. If this level holds, it might reinforce buyer confidence, potentially leading to another test of the upper band.

Lastly, should the price break below the middle band, the next key level to watch would be the lower band at 27.85. A breach here could suggest a deeper correction or a shift in the market sentiment, urging traders to reassess their positions based on subsequent price actions and other market indicators.

MultiversX (EGLD) Price Analysis: Stochastic RSI

The Stochastic RSI on the 4-hour chart for MultiversX (Elrond)  current readings are K: 32.34 and D: 58.19. This setup shows the K line below the D line, typically indicating a potential bearish momentum as the faster K line is trending downwards.

Additionally, the values are converging in the mid-range of the indicator, far from the overbought or oversold zones, suggesting a lack of strong momentum. This position could imply consolidation or a period of less definitive price movements, making it crucial for traders to wait for clearer signals.

Finally, should the K line cross above the D line while moving upwards towards the overbought territory (above 80), it would indicate increasing buying pressure. Conversely, a move down towards the oversold area (below 20) could signal growing selling pressure. 

MultiversX (EGLD) Price Prediction 2024-2030

MultiversX (EGLD) Price Prediction 2024

The projected value of MultiversX (EGLD) is expected to stabilize at a minimum of $30.75 in 2024. It could reach a peak of $34.27, with the anticipated average trading price hovering around $32.56 for the same year.

MultiversX (EGLD) Price Prediction: Resistance and Support Levels

The MultiversX chart illustrates two clear resistance levels and one support level. The first resistance level is marked at approximately $32.00, where the price has attempted and failed to break through several times, notably around June 24 and more recently. This resistance has proven to be a challenging threshold for buyers to overcome.

The second resistance level is slightly higher, positioned around $34.00. It’s discernible from the peak around June 14, and this level has not been retested recently, suggesting that it represents a stronger psychological barrier for the market. A successful breach above the $32.00 level could prompt a test of this higher resistance.

The support level is identified at about $30.00, serving as a floor through which the price has not fallen since around June 26. If bearish pressure intensifies and the price breaks below this support, it could lead to further declines, potentially testing lower levels around the $28.00 area seen earlier in the month. 

Conversely, holding above this support may consolidate buyer confidence, enabling another attempt to breach the established resistance levels.

MultiversX (EGLD) Price Prediction 2025

Our in-depth analysis of historical MultiversX (EGLD) price trends indicates that for 2025, the lowest anticipated price is about $66.84. The peak price could escalate to as much as $85.56, while the average trading price is expected to remain around $70.88 throughout the year.

MultiversX (EGLD) Price Prediction 2026

Drawing from Coin Edition forecasts, the MultiversX (EGLD) price is predicted to sustain a minimum of $97.14 in 2026. Our projections indicate that the EGLD price could ascend to a maximum of $122.51, with the expected average trading price situated around $102.32 for the year.

MultiversX (EGLD) Price Prediction 2027

Predictions and technical assessments for MultiversX (EGLD) in 2027 suggest a baseline price of $133.17. It is forecasted that the EGLD value could rise to a high of $169.05, with an average price throughout the year expected to settle at approximately $140.48.

MultiversX (EGLD) Price Prediction 2028

For 2028, MultiversX (EGLD) is anticipated to maintain a minimum price of $184.27. Projections indicate that the EGLD price may surge to a maximum of $233.85, with the yearly average trading price likely to hover around $194.29.

MultiversX (EGLD) Price Prediction 2029

In 2029, forecasts suggest that MultiversX (EGLD) will have a minimum value of $268.59. Our analysis projects that the highest achievable price for EGLD could reach $341.18, with an expected average price of approximately $283.07 throughout the year.

MultiversX (EGLD) Price Prediction 2030

In 2030, it is predicted that MultiversX (EGLD) will maintain a floor price of $392.37. The maximum price is expected to climb to $498.28, with the projected average price for the year settling at about $413.48.

MultiversX (EGLD) Price Prediction 2032

According to recent projections and detailed technical analysis, the price of MultiversX (EGLD) in 2032 is expected to have a minimum value of $838.65. The price is forecasted to potentially reach a high of $1063.36, with the average trading price throughout the year anticipated to be approximately $883.09.

FAQs