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
The daily ERD/USDT also looks bullish. Let's see if the 0.0036 USDT target is hit quickly.