$ERA
$ERA Market Trend: Bearish Bias, Watching for Further Downside
Trade Signal
Entry 1 (Short): $1.5000 (Current support break)
Entry 2 (Short): $1.6300 (Short on retest of resistance/middle band)
TP1: $1.4500
TP2: $1.4000
TP3: $1.3500
TP4: $1.3000
Stop-Loss: $1.8000 (Above current consolidation resistance)
Why This Trade?
ERA spiked high but has since dropped significantly and is now consolidating at lower levels, hugging the bottom of the Bollinger Bands. This tight consolidation after a big fall often signals a continuation of the downtrend. A break below $1.50 could lead to further declines as selling pressure increases.
Support & Resistance Levels
Support: $1.5000 • $1.4500 • $1.4000
Resistance: $1.5300 • $1.5600 • $1.6000
Market Update for ERA (ERA)
ERA is showing weakness after its initial volatility, currently consolidating below key resistance. Volume has dropped, suggesting a lack of buying interest to push it higher. The market sentiment appears to be turning bearish for ERA, with potential for further price depreciation if current support levels fail.
