$ERA /USDT - Bullish Setup After Consolidation
ERA is showing signs of life after a period of sideways accumulation. The price has successfully reclaimed key short-term moving averages, and now a breakout could be on the horizon. Here's a quick look at the key levels to watch:
Price: $0.9499
Trend: The price has been consolidating after a recent sell-off, with a notable bounce off the $0.93 support level. This suggests that a base has been established.
Resistance Levels
1️⃣ $1.02 — This is the first major resistance zone. A strong close above this level would confirm a short-term breakout.
2️⃣ $1.08 — If the momentum continues, this serves as the mid-term target.
3️⃣ $1.15 — This is a critical level, representing a test of the MA99 and a key psychological barrier for a potential trend reversal.
Safety Net
$0.96 — The confluence of the MA25 and MA7 provides immediate support.
$0.93 — The secondary base, which held firm during the recent dip. This level is crucial to hold to avoid a deeper pullback.
The price has successfully reclaimed short-term moving averages, a positive signal.
A decisive move and a strong close above the $1.00 psychological level is needed for bullish confirmation.
The MA99 at $1.15 is the "gate" for a sustained trend reversal. A successful break above it would be a major victory for the bulls.
Stay vigilant, trade smart, and manage your risks!
Disclaimer: This is not financial advice. Do your own research before making any investment decisions.
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