eGold Consolidates at Key Support, Eyes Rally Toward $20EGLDUSDT SPOTBYBIT:EGLDUSDTThe_Alchemist_Trader_eGold (EGLD) continues to respect a critical support zone aligned with the 0.618 Fibonacci retracement and the value area low. Holding above $14.22 could trigger a bullish rotation toward $20. Introduction: EGLD’s recent price action has highlighted the importance of its current support region, which holds multiple technical confluences. With the 0.618 Fibonacci retracement and the value area low reinforcing this level, buyers have so far maintained control. As long as price remains above $14.22, the bullish structure of higher highs and higher lows remains valid, setting the stage for potential continuation. Key Technical Points: - Critical Support at $14.22: Confluence with 0.618 Fibonacci retracement and value area low provides structural strength. - Bullish Market Structure Intact: Higher-low projections remain valid on the daily timeframe. - Next Target at $20: An untested high time frame level that could attract price if momentum builds. Main Analysis: The $14.22 level is a crucial pivot for EGLD, sitting directly in line with the 0.618 Fibonacci retracement and the value area low of the current trading range. These overlapping signals provide strong technical support and create favorable conditions for buyers to maintain control. This region has repeatedly acted as a foundation for consolidations, confirming its importance as a structural anchor. Price action continues to form higher lows and higher highs, which is a defining characteristic of bullish momentum. As long as this projection holds, the broader market structure remains positive. A decisive defense of the $14.22 region will only reinforce this trend, allowing buyers to prepare for another impulsive move higher. The $20 level stands out as the next significant target. This area has not yet been tested following recent price action and therefore is likely to act as a magnet for continuation. From a volume perspective, demand confirmation will be essential. The volume profile needs to show sustained bullish inflows to support acceleration toward $20, as price action alone is not enough to validate a breakout. Consolidation without volume could delay the rally, while a surge in participation would confirm that buyers are firmly committed. What to Expect in the Coming Price Action: If EGLD consolidates above $14.22 with sustained bullish volume, the probability of a rally toward $20 increases substantially. A break of this resistance would further validate the bullish structure. Conversely, losing $14.22 on a closing basis would undermine the higher-low projection and increase the risk of a deeper corrective move. Conclusion: eGold is holding firm at a major support zone, with the 0.618 Fibonacci retracement and value area low providing strong technical confluence. If buyers defend $14.22 and demand builds through volume, EGLD could rotate toward $20, reinforcing its bullish market structure. Failure to sustain this region, however, would challenge the bullish outlook and expose the asset to a deeper retracement.