ERD is in a downtrend but selling pressure is decreasing so we can expect a rebound of ERD with 230-240sts target over the next 4-5 days.
But if it falls out of the 170sts range, the ERD will have a sharp drop to 130-140sts, which is a reasonable buy zone where we could buy ERD back.
-Elrond unable to break the trendline resistance
-It is now in the critical area where a decision needs to happen
-If I will trade this kind of market scenario
-The safer approach is to wait for the breakout direction
-A break of trendline resistance will give Buy signal
-While a breakdown of support will lead to 135 potential next support
After a massive about 2800% pump in 3 months ERD needs to cool down.
Bulls seems to be exhausted and they start to sell theirs ERD bags and book the profits.
ERD has broken the support and retest it as a resistance and seems to continue down.
On daily time frame we can see that it had formed inverted Head and shoulders pattern witch is a bearish sign.
ERD is forming a Bearish Accumulation pattern called a Bear flag.
A bear flag pattern is constructed by a descending trend or bearish trend, followed by a pause in the trend line or consolidation zone. The strong down move is also called the flagpole while the consolidation is also known as the flag.
The bear flag pattern comes after a strong move...
-After the price printed two Lower Highs
-It started breaking local support at the moment
-If this candle will fail for the next 12-24 hours
-There is a huge chance of potential previous resistance retest
-Which is located around 183 sat range
-That's still over -15% drop from the current price
-I only recommend opening a Buy position once reversal signs are seen
Elrond has now a market cap of 300 000 000 usd with a circulating supply of 13,323,533,427 from a total supply of 20,000,000,000 ERD.
My first target is 97satoshi in the short term.
If you are interested to test some amazing buy and sell indicators, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
ERD is ranging between two trend line T1 as resistance and T2 as support.
Resistance has been tested twice at T1 and also support has been tested twice on T2.
ERD Needs to test the daily levels at 187 and have to break for a bull run. Other it is going to retrace back to 161 which is a daily support.
ERD is making RISING WEDGE PATTERN
If we see at the volume, it...
- ERDBTC has a support zone between 61 and 62 sats, which lies at the confluence of both the 0.618 fib level and an ascending trend line.
- We will have a price reversal confirmation after breaking the 66 sats resistance level. This will mark the breakout of the descending channel and will trigger an upward move.
-testing the recent top resistance at 71 sat
-if ERD can break this top and retest as new support
-we will likely see another upward continuation
-my upside target is the fib resistance zone between 80-85 sats
👁️🗨️ Elrond will pay you $60k if you break its blockchain before its MainNet launch. That is attractive, but honestly, ERD has been paying you to just smash the buy button like a caveman (no coding skills necessary)... and that is attractive too.
Jokes aside, ERD has been on a very evident uptrend since the COVID bottom and it looks like the bulls have more room...
ERD has confirmed a support zone as it double bottomed near 15 sats. ERD is now on the rise hitting 20 sats. There was one small rejection off the 200MA, but given the fact that ERD is newer than most, I dont think this play a major rejection. I expect 20 sats to be broken and a push upwards toward T1 at 22 sats, T2 at 24 sats, T3 at 26 sats, and...
Elrond / Bitcoin cryptocurrency has formed a bullish Gartley pattern and entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.
I have used Fibonacci sequence to set the targets:
Buy between: 0.00000023 to 0.00000022
Sell between: 0.00000025 to 0.00000028
Atif Akbar (moon333)