ERN/USDT Technical Analysis 📊: Buying, Selling, and Stop Loss Targets 🎯
Current Price: 3.028 USDT
Support Level: 2.940 USDT
Resistance Level: 3.039 USDT
Trading Data:
24h High: 3.034 USDT
24h Low: 2.751 USDT
24h Volume (ERN): 1.13M
24h Volume (USDT): 3.25M
Technical Analysis:
Price Trend: ERN has gained +7.03%, showing strong bullish momentum.
RSI (Relative Strength Index): RSI indicates a bullish trend with the potential for more upward movement.
Moving Averages: Price is trading above the short-term moving averages, suggesting continued upward momentum.
Support and Resistance Zones: Immediate support is at 2.940 USDT, with resistance near 3.039 USDT.
Step-by-Step Trading Strategy:
Buy Signal:
Look for a potential bounce near the support zone at 2.940–2.950 USDT.
A breakout above 3.039 USDT could signal further bullish continuation.
Sell Signal:
Take profit near the resistance level at 3.039–3.050 USDT.
Extended target: 3.070 USDT if the bullish momentum persists.
Stop Loss:
Set a stop loss below 2.940 USDT to protect against downside risks.
Target Price:
Short Term: 3.039–3.050 USDT.
Medium Term: 3.070 USDT, if the bullish trend continues.
Important Notes:
ERN's upward movement is strong, but it's crucial to monitor price action around resistance for potential reversals.
Manage risk with stop losses and consider entering near support levels for better risk/reward scenarios.
Be cautious of price retracements after testing key resistance levels.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and trade responsibly.
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