$ERA Technical recovery from oversold conditions
Overview: RSI14 for ERA rose from 32.93 to 36.43 in 24 hours, exiting the oversold zone. The price returned above the key support level of $0.926, indicating short-term buying interest.
What this means: Traders may see the RSI recovery and holding of support as a signal to buy on the dip. However, the 7-day moving average ($1.01) remains a resistance zone. Trading volume increased by 31% to $69.6 million, but the volume to market cap ratio (0.49x) remains high, suggesting potential volatility.
The growth of $ERA over the last 24 hours is due to a combination of positive news and a technical bounce, despite ongoing macroeconomic difficulties (30-day decline -28.6%). The deal with Mawari gives the project additional momentum in the Web3 infrastructure space, while ERA Force One aims to bolster holder sentiment.
What to watch for: Will $ERA hold above $0.926 and attract further buyers, or will the 7-day moving average limit growth against the overall weakening of altcoins