The Elrond (EGLD) token seems to be gearing up to retest its all-time high currently located at the $300.56 level

The Elrond token is currently trading at $204.99 at the time of writing. The coin has seen gains of 11.33% in a day after a long period of consolidation that started at the $146.94 level on 20 September 2021. The coin could possibly retest its ATH if the volumes continue to build up. The EGLD token seems to be establishing a support zone near the $200 region and the coin could possibly establish higher highs if the current price rally continues in the future. 

How & where to buy Elrond in the UK and elsewhere

The Elrond token is a popular cryptocurrency and if you are interested in purchasing it, then you will need to open a trading account on an exchange/broker platform. To register an account, simply click on the sign up tab and submit a username, password and email address. Then, proceed to account verification and provide proof of identity and address. Most sites will accept standard documents such as a driving license and a utility bill. The verification process is required to ensure compliance with the Know Your Customer (KYC) regulations. 

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What is Elrond and why is it rallying? 

The Elrond network is a unique scalable enterprise solution that has incorporated sharding technology. It allows easy deployment of dApps and focuses on faster and low-cost transactions. The EGLD network also plans to venture into decentralised finance (DeFi). 

The EGLD token was recently listed on the KuCoin exchange and has entered into a partnership with Alchemy Pay. The latter alliance will help in the easy conversion of EGLD into fiat and vice-versa. 

Should I buy EGLD today?

The Elrond token has managed to sustain its rebound rally and the positive news surrounding the coin could possibly help it to retest its ATH soon. The coin could possibly provide healthy rewards to its early holders. The Elrond network is known for its reliability and speed. 

The first target for the EGLD coin is to breach the $250 level and move closer to its ATH. The coin has the potential to surge higher if the bulls retain interest. 

This article is informational only—none of the contents should be construed as financial or investment advice.

This post was originally published on Coinjournal.