$ERA Bounce or Bull Trap? Watch These Key Zones!
ERA has rebounded sharply to $1.4989 after dipping near $1.44, showing signs of short-term recovery. However, it’s still hovering below resistance, and the next candle could confirm either a strong reversal or just a dead cat bounce.
Key Levels to Watch:
• Resistance Zones:
• $1.53 – Initial resistance from recent wicks
• $1.58 – Previous local top and strong seller zone
• $1.62 – Major resistance to confirm trend reversal
• Support Levels:
• $1.44 – Crucial bounce zone; losing this opens downside risk
• $1.40 – Breakdown support, below which panic selling may resume
Trade Setup – Wait for Confirmation!
Bullish Entry: A clear move above $1.53 with strong volume
• Target 1: $1.58
• Target 2: $1.62
• Target 3: $1.70
Bearish Entry: A drop below $1.44 with rising sell volume
• Target 1: $1.40
• Target 2: $1.32
Volume has spiked, but structure still weak—don’t chase. Let confirmation lead, not emotion.
