Long
ERD Needs to break 34 sats to break out of cup and handle
Hello everyone,
This time I will analyze this hyped coin, whose foundations are strong and the team is active to solve the scalability problem that blockchain is facing.
I left this weekly chart is clean and simple, only showing some important support and resistance lines.
The trend is clearly to the upside, stage 1 'accumulation' has ended when ERD broke the 25 sats. Stage 2 'demand and greed' is happening right now. I see a beautifully rounded bottom and possibly a cup and handle pattern forming. This pattern is not broken to the upside yet tho! The 34 sats resistance must be broken first. Then stage 3 'Distribution/anxiety/FOMO' will start.
I will also take a look at the lower timeframes soon
Trade safe!
Greetings,
Corné
PS leave a like if you enjoyed this post, and maybe check out my other ideas
This time I will analyze this hyped coin, whose foundations are strong and the team is active to solve the scalability problem that blockchain is facing.
I left this weekly chart is clean and simple, only showing some important support and resistance lines.
The trend is clearly to the upside, stage 1 'accumulation' has ended when ERD broke the 25 sats. Stage 2 'demand and greed' is happening right now. I see a beautifully rounded bottom and possibly a cup and handle pattern forming. This pattern is not broken to the upside yet tho! The 34 sats resistance must be broken first. Then stage 3 'Distribution/anxiety/FOMO' will start.
I will also take a look at the lower timeframes soon
Trade safe!
Greetings,
Corné
PS leave a like if you enjoyed this post, and maybe check out my other ideas
Note
The daily ERD/USDT also looks bullish. Let's see if the 0.0036 USDT target is hit quickly.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.