MultiversX Price Prediction: EGLD Surges 55% in a Week Ahead of September 10 Supernova Launch

• EGLD’s recovery is strong, but the broader bearish structure remains intact.
• Rising open interest and positive flows suggest early signs of renewed buyer interest.
• Supernova’s faster blocks could strengthen EGLD’s fundamentals and investor sentiment.

MultiversX (EGLD) has staged a powerful recovery, but its broader market structure remains firmly bearish. EGLD trades around $5.38 after gaining 29.07% over 24 hours and 55.70% in seven days.

Trading volume has also climbed above $52.5 million, signaling stronger market participation. However, the sharp rebound follows a prolonged decline from the $14-$16 region. 

Recovery Meets Heavy Resistance

EGLD currently holds near the $5.30-$5.50 support area after its latest surge. A sustained move above $6 could encourage buyers to target $7.11 next. The $7.11 level marks the 0.236 Fibonacci retracement and repres…

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