ERG/USDT Update: Ergo Pumps as expected and not end in sight.
Intro:
- ERGO breaks through 12.5$ and goes for new ATH which currently sits at 18$.
- Unfortunately ERGO on tradingview does not show the full history. We include the resistance levels around 10$, 12.5$ and 17$.
- ERGO worked together with Charles from Cardano and they talk highly from each other which is a good thing if you believe in ADA and it's approach.
- Guys please give me some feedback to improve my charts, analysis and commentaries.
Daily chart on the left hand side:
- Price broke through the 12.5$ resistance line after nearly 10days of consolidation.
Between 12.5 and 18$ there is mostly void which suggests some volatility.
- Volume rises which is a bullish sign.
4h chart on the right hand side:
- It's worth noting that due to low volume the price behaves very volatile.
- Strong RSI that went into the overbought territory (>80) and bounced quickly. Not too dangerous yet.
Expectation:
- We expect to see new ATH's until the 12th of september?
Why is that? It's the official date for cardano to launch their smart contract abilities on their chain and Ergo is connected to ADA.
- Once people will realize the potential of ERGO we expect to see this coin in the top 50.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
- ERGO breaks through 12.5$ and goes for new ATH which currently sits at 18$.
- Unfortunately ERGO on tradingview does not show the full history. We include the resistance levels around 10$, 12.5$ and 17$.
- ERGO worked together with Charles from Cardano and they talk highly from each other which is a good thing if you believe in ADA and it's approach.
- Guys please give me some feedback to improve my charts, analysis and commentaries.
Daily chart on the left hand side:
- Price broke through the 12.5$ resistance line after nearly 10days of consolidation.
Between 12.5 and 18$ there is mostly void which suggests some volatility.
- Volume rises which is a bullish sign.
4h chart on the right hand side:
- It's worth noting that due to low volume the price behaves very volatile.
- Strong RSI that went into the overbought territory (>80) and bounced quickly. Not too dangerous yet.
Expectation:
- We expect to see new ATH's until the 12th of september?
Why is that? It's the official date for cardano to launch their smart contract abilities on their chain and Ergo is connected to ADA.
- Once people will realize the potential of ERGO we expect to see this coin in the top 50.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
