ERA JUST JUMPED 22 PERCENT AS BUYERS FINALLY ABSORBED THE UNLOCK SUPPLY
The Binance board this morning has one clean story and it is not Bitcoin
Bitcoin sits flat near 80100 while ERA ripped 22 percent in 24 hours to 9 cents
That gap is the whole trade in one line
Here is what actually changed
Caldera put 2 million dollars of new ERA into the market on October 17 in a scheduled unlock worth 16 percent of its market value at the time
That supply hung over the tape for a week and sellers used it to push ERA toward 7 cents
This morning the tape flipped
ERA traded between 7 cents and 10 cents in 24 hours on 14 million dollars of Binance spot volume and now holds near 9 cents
Volume that size on a 16 million dollar market value coin means the unlock supply found buyers instead of finding a floor
One more fuel line worth knowing
Perp desks went into the weekend heavily short with funding deeply negative per October 25 token data
When spot buyers stepped in that crowded short side had to pay up to stay short
That is squeeze fuel not a new product launch and I am calling it what it is
My take
I weight this as an overhang clearing first and a trend second
A daily hold above 9 cents keeps the road to 10 cents open
A fall back under 7 cents tells me the unlock sellers are back in charge and this bounce was just a relief move
I am not chasing the top of a 22 percent day but I am watching 9 cents like it decides the week
Are you buying the overhang clearing at 9 cents or waiting for 7 cents to prove the sellers are done
$ERA
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #ERAUnlockBounce
The Binance board this morning has one clean story and it is not Bitcoin
Bitcoin sits flat near 80100 while ERA ripped 22 percent in 24 hours to 9 cents
That gap is the whole trade in one line
Here is what actually changed
Caldera put 2 million dollars of new ERA into the market on October 17 in a scheduled unlock worth 16 percent of its market value at the time
That supply hung over the tape for a week and sellers used it to push ERA toward 7 cents
This morning the tape flipped
ERA traded between 7 cents and 10 cents in 24 hours on 14 million dollars of Binance spot volume and now holds near 9 cents
Volume that size on a 16 million dollar market value coin means the unlock supply found buyers instead of finding a floor
One more fuel line worth knowing
Perp desks went into the weekend heavily short with funding deeply negative per October 25 token data
When spot buyers stepped in that crowded short side had to pay up to stay short
That is squeeze fuel not a new product launch and I am calling it what it is
My take
I weight this as an overhang clearing first and a trend second
A daily hold above 9 cents keeps the road to 10 cents open
A fall back under 7 cents tells me the unlock sellers are back in charge and this bounce was just a relief move
I am not chasing the top of a 22 percent day but I am watching 9 cents like it decides the week
Are you buying the overhang clearing at 9 cents or waiting for 7 cents to prove the sellers are done
$ERA
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #ERAUnlockBounce
