ERGO/USDT
Possible outbreak from symmetrical triangle and wondering where this might lead.
I used data point from coinmarketcal and coingecko to have a minimal price history (since feb 2021). Tradingview only has data since the listing on Kucoin.
FYI: The highest USD valuation was 22.37 on 16 december 2017. NOt the 18.18USD on 18 may 2021.
The fibonacci extensions line guide us to profitable moves upwards.
Target 1: 27.86
Target 2: 41.87
Since BTC dominance possibly fades further to 40% by september (where we expect a strong bounce), a lot of altcoins have room for growth.
ERGO is a very promising project but not 100% operational and only availible on 1 DEX (KUCOIN) (and swap protocols). Many will follow down the road.
A lot of upside on the implementation of the technology itself and the market valuation make the short term targets above not so radical.
As for timing I think no patience is required. It looks quite ready for a leg up.
Kind regards,
ThVD
Possible outbreak from symmetrical triangle and wondering where this might lead.
I used data point from coinmarketcal and coingecko to have a minimal price history (since feb 2021). Tradingview only has data since the listing on Kucoin.
FYI: The highest USD valuation was 22.37 on 16 december 2017. NOt the 18.18USD on 18 may 2021.
The fibonacci extensions line guide us to profitable moves upwards.
Target 1: 27.86
Target 2: 41.87
Since BTC dominance possibly fades further to 40% by september (where we expect a strong bounce), a lot of altcoins have room for growth.
ERGO is a very promising project but not 100% operational and only availible on 1 DEX (KUCOIN) (and swap protocols). Many will follow down the road.
A lot of upside on the implementation of the technology itself and the market valuation make the short term targets above not so radical.
As for timing I think no patience is required. It looks quite ready for a leg up.
Kind regards,
ThVD
Note
timing UPDATE 
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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.
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.