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Ergo / Tether

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ERGUSDT trade ideas

ERG/USDT technical analysisERG/USDT technical analysis Daily chart: - Price finally found support at the last drawn support line around 8$. From there we see a strong bounce which confirms that these prices were oversold. - Volume increases but has still a lot of room to grow. - RSI analysis shows that we found support around the 30 line where below we would be officially within the oversold region. After the strong bounce it is likely to see some sort of consolidation before we move towards the 80 line.
by Sahharyoucef
ERG/USDT Strong bounce of support band. Can we go back to 18$? Intro: - ERGO is an Oracle that will be used for the Cardano blockchain. - 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. - SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned. - In circulation we have 45million coins out of currently 100million possible. It seems unknown what is the max amount possible. It is therefore a risk factor for inflation that could lead to a price drop. Just keep that in mind. - Total market cap is currently around 500 million which seems too low. Daily chart: - Price finally found support at the last drawn support line around 8$. From there we see a strong bounce which confirms that these prices were oversold. - Volume increases but has still a lot of room to grow. - RSI analysis shows that we found support around the 30 line where below we would be officially within the oversold region. After the strong bounce it is likely to see some sort of consolidation before we move towards the 80 line. - Support lines are at 10.5$ and 8$. - Resistance lines are at 12.5 and 19$. Expectation: - We expect ERG to recover together with ADA since ADA will be the driving force. - We possibly retest the 10.5$ line which could act as support and help ERG moving higher. This could lead to another bullish rally together with the whole Cardano ecosystem. - End of the year prediction: We will see a 50$+ Ergo before the end of 2021. 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. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Long
by tumbler55
1
Ergo Batter UpSwing Trade Setup - Long ERG/USDT 4 Hr Entry: $9.240 Stop Loss: $7.745 Potential Loss: -16.18% Target 1: $18.347 Potential Profit: +98.56% Risk/Reward Ratio - 6.09:1 Target 2: $18.980 Potential Profit: +105.41% Risk/Reward Ratio - 6.52:1 Reasons to Take the Trade: - Bullish Bat Harmonic Pattern - Bitcoin has invalidated the Wyckoff Redistribution pattern and the 0.786 macro fib retracement, threatening a bullish move to $100,000 if the daily candle closes above the 786. Such price action will be a catalyst for altcoin movement upwards. - Triple Class A Hidden Bullish Divergence on both the 4 hour RSI and the MACD. Class A Hidden Bullish Divergence on the 1 Hour timescale as well. - RR Ratio is absurd. Just absolutely absurd. Reasons Not to Take the Trade: - If Bitcoin's bullish movement proves to be in fact too much hype, it may never come back down to hit the 0.886 of the XD measurement, and thus never hit the PCZ target for our entry. - You'll lose 16.18% of your position if this does end up being the short of the decade.
Long
by HeathHimself
1
ERG/USDT Is a downtrend breakout in sight? We are Ready!Intro: - ERGO is an Oracle that will be used for the Cardano blockchain. - ERGO worked together with Charles from Cardano and they talk highly from each other which is a good thing if you believe in ADA and it's approach. - SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned. Daily chart: - Price currently is within a downtrend and near a local support around 10.5$. - Volume decreases since the start of September where ERG was listed on Kucoin. Once we break the downtrend this could change quickly. - RSI analysis shows a "soft" downtrend breakout. We are still going down but could set a higher low. - Support lines are at 10.5$ and 8$. - Resistance lines are at 12.5 and 19$. Expectation: - We expect a further price appreciation during the next three months and a solid recovery until the end of October. Currently price depends on the ADA price token which is stagnant at this moment. - Looking forwards into October where we might see an ETF approval for Bitcoin . This would be in favor for the whole market. - We possibly retest the 10.5$ line which could act as support and help ERG to push through the purple line. This could lead to another bullish rally together with the whole Cardano ecosystem. - End of the year prediction: We will see a 50$+ Ergo before the end of 2021. 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. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Long
by tumbler55
7