Short
Time is running out for $ERN
ERN has been struggling to break the resistance for too long. $2.8 should be broken soon; otherwise, things will get bearish since the pattern already looks like a bear flag. If $2.8 is lost, ERN is going to $1.5, and after that, we can expect a pullback to $2-$2.30.
However, if bulls help ERN to break the resistance, we can expect the price to slowly increase and an attempt to break $4.40 in the coming months. I don't really think the shoulder can be broken so easily, even if $2.8 is broken. But if that happens, the price can reach $6, and we might see a double top or an inverted H&S pattern, which can push the price higher if it's completed.
However, if bulls help ERN to break the resistance, we can expect the price to slowly increase and an attempt to break $4.40 in the coming months. I don't really think the shoulder can be broken so easily, even if $2.8 is broken. But if that happens, the price can reach $6, and we might see a double top or an inverted H&S pattern, which can push the price higher if it's completed.
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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.