The ERN/USDT pair on Binance's 4-hour chart is currently trading around $2.172. The price is below the 200-period moving average (MA) at $2.174, indicating a bearish trend over the longer term. The price is near the Volume Weighted Average Price (VWAP) of $2.170, suggesting a balanced market with no strong momentum in either direction.
Technical Indicators:
VWAP (Volume Weighted Average Price): At $2.170, just slightly below the current price, indicating that the price is near its average volume-weighted level, suggesting a balanced market.RSI (Relative Strength Index): The RSI is at 46.72, which is in the neutral range, indicating that the market is neither overbought nor oversold. This suggests balanced momentum with no immediate signs of a reversal.MACD (Moving Average Convergence Divergence): The MACD shows a slight bearish signal, with the MACD line below the signal line and the histogram moving into negative territory. This suggests a potential bearish momentum if the current conditions hold.
Key Levels to Watch:
Resistance Levels:The immediate resistance level to watch is around $2.300. A breakout above this level could lead to a further rise towards the next significant resistance zone around $2.500.Support Levels:On the downside, the primary support level is near $2.000. A break below this level could lead to further declines towards the next support zone around $1.800.
Disclaimer:
The information provided in this analysis is for educational purposes only and should not be considered financial advice. Cryptocurrency investments are volatile and carry a high risk. Always perform your own research before making any investment decisions.
