Elrond has shown extreme strength and representing underlying demand of the asset; Looking at the long term count we seem to be moving into a larger MACRO WAVE 3 CYCLE similar to Solana (SOL) which is supported by the extended wave count see on lower time frames in which we have further price increases to be expected toward $340 where there will be expected resistance at the ~2.618 extension of wave miniscule wave 1 shown on chart; however, even in the 3rd wave current we can see it is getting extended further. This shows that Elrond has extreme strength and buying demand postulating that Elrond is still undervalued. Although overbought Elrond can continue to move up higher quite impulsively before finishing the miniscule 3rd wave and consolidating sideways to regain steam. Nevertheless, Elrond seems well on its way to a super cycle towards $800+.
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