#StablecoinLaw ERA/USDT🔍 Current Chart Analysis

Trend: Price these days broke beneath the 50 EMA (~1.2594), indicating a bearish short- time period fashion .

Volume Spike: Last purple candle has excessive extent (122.51K), probably a capitulation candle (panic sell-off).

Support Level: Price is presently sitting round 1.2376, that may act as a short- time period support ( suits in advance consolidation sector round 18:00–19:00).

Oversold Signs: The massive purple candle ought to endorse a ability oversold condition, specifically if RSI ( now no longer shown) is likewise low.

✅ Potential Buy Trade Setup (Countertrend / Scalping Idea)

This could be a scalp or jump alternate primarily based totally on exhaustion and extent spike.

Entry:

Wait for bullish affirmation candle (e.g., a inexperienced candle that closes above the frame of the purple candle).

Ideal entry: Above 1.2400–1.2420, as soon as symptoms and symptoms of reversal appear.

Stop Loss:

Below the latest wick or shape low: ~1.2300–1.2320

Take Profit:

TP1: Retest of fifty EMA (~1.2594)

TP2: Local excessive sector round 1.2700

Risk Management:

R:R ratio need to be as a minimum 1:2

Only input with small length if countertrend; anticipate fashion affirmation ( charge above EMA 50) for more potent lengthy setups.

🚫 Avoid Buying If:

Price closes beneath 1.2300 with sturdy extent – that could invalidate the support.

No bullish candle seems withinside the following couple of 5m bars ( this could imply extra downside).