#CryptoTrading. #Signal🚥.

📊Technical analysis (1 hour) $ERA / USDT

1. Price Action: The chart shows a significant drop from a recent high of around 1.9456 to a low of 0.8361, indicating a sharp bearish movement. The current price appears to be stabilizing around 1.4597, suggesting a potential short-term support level.

2. Volume: Trading volume spiked during the sharp decline (22,529,350,000), which often signals strong selling pressure. Recent volume has decreased, which could indicate reduced momentum in the downward trend.

3. Moving Averages (MA):

• MA(5): 39,772,204.7999 – The 5-period moving average is declining, aligning with the recent downtrend.

• MA(10): 46,064,163.6000 – The 10-period moving average is also trending downward, reinforcing the bearish sentiment.

4. MACD: The MACD line has crossed below the signal line, and both are in negative territory, confirming bearish momentum. The histogram shows decreasing red bars, suggesting the downward momentum might be slowing.

5. Stochastic RSI (StochRSI): The Stochastic RSI is rising from oversold levels (below 0.2), with the current value trending upwards. This could indicate a potential reversal or consolidation phase if it continues to climb toward overbought levels (above 0.8).

⚠️Summary: The ERAUSD pair has experienced a significant bearish trend with a recent stabilization. The declining MACD and moving averages support a continued downtrend, but the rising Stochastic RSI suggests a possible short-term bounce or consolidation. Watch for a break above 1.4597 for a bullish signal or a drop below 0.8361 for further downside.