It seems like they may be announcing something big not exactly sure what it is about exactly but the video on the website looks interesting.
Typically with these type of events or updates whales like to front run the market and start pumping it up before the big announcement/update. That is exactly what happened with ETHs 2.0 update.
It had an initial drop and it had a slow grind downwards to retest the 0.236 Fib retracement level of the range.
As long as we maintain above that 0.236 Fib level I don’t see why it shouldn’t start an uptrend.
Recently XRP seems to have sparked its uptrend bringing some Altcoins with it like XLM and ALGO after it bounced off the 0.236 Fib retracement level in the range. XRP seems to be the market leader currently but it may be consolidating in this zone for awhile.
I guess we will see what the future holds but EGLD is one of the best Cryptos in terms of tech and if you are interested in the details here is a link for more info.