MultiversX (ELGD) upward squeeze is coming

In both the weekly and daily charts, EGLD is approaching significant upward momentum. While many other altcoins have already bullishly retraced to the 0.5 Fibonacci level, EGLD has lagged behind, making its movement more predictable. My current target is the 0.5 Fibonacci level, highlighted in green on the chart. The price is currently supported by multiple strong levels, such as the 0.618 Fibonacci retracement from the Q1 '24 upswing. Additionally, EGLD has broken out of a descending channel and is now retesting it. Notably, accumulation around this price point has been ongoing for nearly 750 days, reinforcing its stability.