The Relative Strength Index (RSI) for $ERA
is around 38.31, which is in the oversold zone. This indicates high selling pressure. The price of $ERA is below the 30-day moving average (SMA) at $1.04, which is a bearish signal. The MACD histogram is positive but very small, indicating weak momentum. If the price fails to break the Fibonacci retracement level of 23.6% at $1.41, it is likely that the decline will continue.
Market sentiment is neutral, with the fear and greed index at 56. The altcoin season index is rising, but Bitcoin's dominance remains high. It is possible that investors are returning to Bitcoin, causing altcoins like ERA to experience pressure. Additionally, the trading volume of ERA has decreased by 28.6% in the last 24 hours, which may indicate a decrease in interest or liquidity, making the price more susceptible to downward fluctuations.
Overall, the price drop of Caldera ($ERA ) is attributed to a combination of technical factors, underperformance relative to the overall market, and possibly unmet expectations from recent news.