$ERA /USDT has seen a notable pullback on the 1-hour chart, now trading around $1.2423 after an -18.5% drop in 24 hours. ๐ป๐
๐จ What the chart is telling us:
Strong Retracement: From a 24h high of $1.6629, price has slid sharply, pointing to profit-taking or selling pressure.
Support in Sight: The recent low of $1.2171 is being tested watch for any bounce off this level.
Volume Check: If red-candle volume remains high, sellers are firmly in control. A drop in sell volume could hint at exhaustion.
Typical Post-Listing Dynamics: New pairs often spike then correct as the market finds fair value.
Key considerations:
โ Support Zones: Look for stabilization around $1.22โ$1.24.
๐ง Fundamentals Matter: Reassess ERAโs use case and team to gauge long-term strength.
โ ๏ธ Risk Management: Define your entry, stop-loss, and position size before diving in.