Edgeless coin found the support at 6770 satoshi, which is 327.2% Fibonacci retracement applied to the corrective wave after the 200 Moving Average breakout. This support has been respected throughout the last two months.
Currently, EDG/BTC approached that support level again, which either could provide a good buying opportunity or break below and go pretty close to 0 value against BTC. Seems the price is cheap although it could get cheaper, so it is better to wait and see if the support will be rejected again. On the other hand, break below the support could send it lower towards 427.2% retracement at 3250 satoshi.
However, if the support will be respected once again, it could result in a healthy growth which could be reached strong resistance at 28k satoshi level, which is confirmed with two Fibonacci retracement levels.