ERA is slowly declining in a 'value vacuum', with prices approaching the bottom of the 2-week trading volume, while the POC giant wall at 1.12–1.14 is enticing short-term shorts to cover; if it loses 0.93, it will directly probe the buyer liquidity pool at 0.57, conversely, holding above 0.95 could yield a quick rebound of 15%.

Key Interval Structure
1. Value Anchoring Area: POC 1.125 (1.26 billion USDT, Up/Down 53:47, balanced long and short).
2. High Volume Area: HVN-1 1.105–1.115 (730 million), HVN-2 1.135–1.155 (1.15 billion), forming dual resistance above.
3. Low Volume Gap: 0.93–0.95 is a visibly identifiable LVN, with sparse trading, below which there is no significant HVN until 0.57, beneficial for acceleration.
4. 70% Trading Volume Coverage Area: 1.086–1.775; current price is 12% outside the lower boundary of the range, short-term oversold.
5. Momentum Validation:
• LVN of 0.93–0.95 has only 38% Up Volume in the last 20 1h K lines, dominated by sellers.
• Up Volume above POC 1.12–1.14 has rebounded to 55%, indicating potential short covering ammunition.

Assisted Judgment
• Bollinger Bands: Price is 15% close to the lower band, RSI 36, slightly oversold.
• MA200 1.011 downward, deviation -6.8%, mid-term still bearish.
• 24h contract positions decreased by 3.6%, funding rate -0.0108%, short positions continue to accumulate.

Order Book Anomaly
Total volume ratio of buy and sell orders is 1.32 leaning towards buyers, but near end there are -8k sell orders pressing down, there is a fake wall of 250,000 USDT at 2.0, actual selling pressure is limited.

Market Cycle
Mid to late bear market: Weekly level has retreated from the high point of 2.15, trading volume is gradually shrinking, currently in the 'panic selling followed by a slow decline' phase, waiting for an increase in volume to choose direction.

Trading Strategy (Short-term 4–6 h)
Aggressive: Go long when retesting 0.935–0.938 and 1h Up Volume ≥55%, stop loss at 0.925 (below HVN outer side), target 0.985, risk-reward ratio 3.1.
Conservative: Wait for 1h closing price to return to 0.950 with increased volume, entry at 0.952, stop loss at 0.939, target 1.015, risk-reward ratio 4.9.
Cautious: If it breaks below 0.925, short on rebound at 0.930–0.932, stop loss at 0.940, target 0.885, risk-reward ratio 3.6.

Risk Warning
• Break below 0.925 and LVN increases confirms strategy invalidation.
• Sudden changes in macro sentiment or project-related news will directly impact LVN gaps.

LP Market Making Suggestions
It is recommended to place orders in the range of 0.88–1.05 for market making:
• Lower limit 0.88 corresponds to the lower edge of the recent spot transaction concentration area, with high liquidity demand;
• Upper limit 1.05 is the mid-band of Bollinger Bands + previous breakout point, likely to face selling pressure upon rebound;
• Range width 17%, can capture 5–7% daily fluctuations in transaction fees, and avoid risks from the giant wall at 1.12.

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