Caldera ($ERA ) has fallen. First, let's look at the price data. In the last 24 hours, the decline was -8%, which is a significant decrease. Over the last 7 and 30 days, the changes are also negative — -15.01% and -27.67%, respectively. This indicates that the price is in a downward trend, and the drop over the past day is part of a longer-term decline.
Next, it is worth checking the news and events related to Caldera. The latest message is about the partnership with Mawari from August 15, 2025, which is three days ago. This is fresh news. However, the price drop occurred specifically in the last 24 hours, possibly indicating that the market's reaction to this partnership was not very positive. Sometimes after announcements of partnerships, there is so-called 'selling on news' — when the price drops after the announcement.
Looking at the technical analysis, the RSI indicator for 7, 14, and 21 days is around 37-38, indicating an oversold zone. However, the moving averages (SMA and EMA) for 7 and 30 days are above the current price, indicating a bearish trend. Fibonacci retracement levels show that the price is below the 23.6% level at $1.44, which may act as resistance. Thus, technically, the price is experiencing selling pressure.
The global cryptocurrency market has fallen by 3.6% in the last 24 hours, which could also have affected the decline. Caldera's drop is sharper than the market average, indicating its weak dynamics. The altcoin season index is currently at 42, down 10.64% over the day, which means that capital may be moving from altcoins towards Bitcoin, whose dominance has risen to 59.02%. This may also explain the pressure on the price of ERA.
Another factor is the recent listings on major exchanges such as Binance, Coinbase, and Upbit, which occurred in mid-July. These listings initially caused a price increase, but now profit-taking is possible as early investors sell their assets. A high initial growth (e.g., 120% in 24 hours) often leads to corrections.
Additionally, the partnership with Mawari, although positive, may not have met high expectations. The project is in its early stages, and the DePIN model for XR streaming has not yet been tested in practice. Investors may doubt the quick effect of the collaboration, leading to sell-offs.
It is also worth mentioning the integration of EigenDA V2 on August 7, aimed at improving scalability. If the market perceives delays or difficulties in implementation, this may negatively affect investor sentiment.