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.
Right now ERD is retesting the resistance level and is about to close the day above it. If so, it will have a clear path to 300+ sats, in my opinion.
Note that the mainnet is very close and the CEO announced in the AMA on Friday that new economics & products are coming along with the mainnet launch.
Also, since today, the equivalent of ~$95 mil. in ERD is...
I am expecting an aggressive upside move after the price manages to break the 0.0066$ level. I am pretty confident that this will be a matter of when rather than if, because the resistance looks very weak right now.
- 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.
ERD is forming a parabolic curve pattern that is used to define fast-moving trend acceleration. The price just formed its 4th phase of consolidation. So, after surpassing the previous high of $0.0065$, the price is expected to move fast to the next target, which lies near the psychological price level of 1 cent.