ELG has recently shown signs of short-term rebound due to marginal improvement in crypto market sentiment, but trading volume has not increased significantly. The price is repeatedly consolidating within the key moving average range, and the trend remains unclear. It is recommended to stay cautious, closely monitor volume changes and the previous high resistance level (focus on breakout above the upper edge of the recent consolidation zone at $3.10)—a breakout with increasing volume may open up more upside potential and gradual allocation can be considered; if it fails to stabilize effectively, consider controlling positions and buying on dips. Medium- and long-term positions should be based on continuous validation of project fundamentals and industry environment; avoid blind over-allocation.

In early January, the crypto market began to show signs of low-level oscillating rebound. Investors' wait-and-see attitude has eased somewhat, but trading volume has not yet continued to expand. Both bulls and bears are still competing, with short-term sentiment leaning towards cautious optimism.

Recently, ELG’s price has been repeatedly traded near key moving averages, with the candlesticks maintaining a narrow range consolidation overall. Short-term and long-term moving averages are tangled, and a clear trend has yet to form. If accompanied by steady volume expansion and a breakout above the previous high, this can be seen as a confirmation signal for bullish positions.

Propelled by overall market sentiment improvement, ELG may see a slight short-term rise. However, since the market is still in an observation phase, the risk of a pullback remains. Medium- and long-term positions need to rely on the project’s ecosystem and technological implementation for fundamental support, and only increase positions once the general trend is confirmed.

Escoin

BoE: MPC Maintains a Cautious Stance – Rabobank

Euro-zone inflation probably jumped in April to the highest in 2 1/2 years as fallout from the Iran war squeezed economies across the currency area

USD/JPY: Supported but capped below 160 – DBS

The U.S. Attorney for Washington, D.C.: Will stop the investigation into Powell's Federal Reserve building costs.

The final value of the one-year inflation rate expectation in the US for April is 4.7%.

Bank of Canada to hold interest rates this year, show patience with energy inflation: Reuters poll

ECB: Rate hike call pushed to June – Rabobank

Economists raised their estimates for US inflation and said they expect only one Federal Reserve interest-rate cut this year amid elevated energy costs sparked by the Iran war.

The central bank and eight other departments: Prohibit providing online marketing services for virtual currency issuance and trading.

USD: Cautious tone into weekend – ING

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ELG price today is 0.29, with a live price change of 0.28 in the last 24 hours. Convert, buy, sell and trade ELG on Bybit-eu.

Track Escoin live price, market cap, 24-hour trading range, and real-time chart data on Bybit-eu.

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