The price just broke out from a descending trend line after the release of the ONT partnership news. The 211 sats level would be the last resistance level and if we manage to surpass it this would be our last confirmation of a bullish breakout.
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.
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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.
Pattern: Channel Up on 1D.
Signal: Bullish after every upside break out as the price seems to be filling every gap from the July/ August downtrend.
Target: 0.00000050 (if 0.00000035 breaks) and 0.00000065 (if 0.00000035 breaks).