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- 1 The NGL token witnessed a surge over 7% intraday.
- 2 Technical indicators are suggesting a reversal ahead.
The Entangle token price has retested the 100 day EMA mark and witnessed a retracement in the past trading sessions.The token has persisted in delivering the lower top and lower bottom structure. Following the global market correction, the token has eroded over 35% of gains and slipped to the lower bollinger band support zone. However, the price action indicates that the token has taken support on the 100 day EMA mark and displays a rebound. The technicals are favoring the bulls and suggest that bulls will accumulate the token and stretch the pullback ahead.
At press time, the Entangle token (NGL) price traded at $1.24 with an intraday gain of 7.93%, reflecting neutrality on the charts. It has a monthly return ratio of -40.28% and 252.90% on a yearly basis. The pair of NGL/BTC is at 0.0000191 BTC, and the market cap is $1.23 Billion. Analysts are neutral and suggest that the NGL token price will stretch the pullback and may retain the $1.50 mark soon.
Per the ongoing trend, the token has retested its support trajectory near $1.10 and retraced to the 38.2% zone. Following the market correction, the bears have dominated, and bulls looked trapped. Despite the negative market sentiments, the token has dragged only by 23.56% and looks neutral on the charts.
Entangle Price Volume Profile Analysis On Daily Charts
Per the daily charts of NGL token, the price to volume profile highlights profit booking in the past sessions. However, the sellers have done their work and buyers are starting to accumulate. Moreover, the price action replicates that selling pressure has reduced to a lower rate and the token has made a double bottom around $1.10. For the next sessions, the token is poised for an up move and may retain the round mark of $1.50 shortly. The intraday trading volume surged over 28.29% to $3.13 Million.
Per the Fib levels, the Entangle price has reverted from its 38.2% zone and is witnessing a rebound in the intraday session The price action shows that the correction has done and is anticipating a short term reversal ahead.
The total supply of the Entangle token is 990 Million, whereas the volume-to-market cap ratio is 0.00254, and it is ranked 1953 in terms of market cap in the global crypto market.
Summary
The Entangle token price signifies a rebound and has reverted from the 100 day EMA mark directing buyer accumulation. Moreover, the token is poised for an up move and the token may outperform for the short term ahead.
Technical Levels
Support Levels: $1.10 and $1
Resistance Levels: $1.40 and $1.70
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
