I opened my eyes this morning, saw $ERA , and my heart gave a little pang, guys. That candle’s move yesterday on the 1H chart really went straight to the bottom—the price plunged from $0.075 to a pitiful $0.0631, like the breakup never even happened 😭. And with the news that Caldera (ERA) tokens will unlock on October 17, no wonder the whales are dumping and breaking the structure...
Looking at the 1D chart over the past two years, it’s clearly been in a chronic downtrend. Those short-term recoveries like the recent one were nothing but bear traps, guys 💀. The 1W RSI below 50 confirms the downward momentum, and the 4H MACD is also showing increasingly strong bearish momentum. The current price of $0.0631 is below both the 1H MA25 ($0.0635) and MA99 ($0.0639)—pretty tough going.
Derivatives data shows the funding rate is negative at -0.0877%/8h, and Open Interest has also dropped by 23.2% 📉, signaling that the short sellers are in control. Even though 66.7% of accounts are holding long positions, veteran traders know how it goes: sometimes the crowd is just there to get slaughtered 🫠.
Honestly, I’m leaning slightly toward the short side on this trade, $ERA , even though it breaks my heart 🥲.
Looking at the 1D chart over the past two years, it’s clearly been in a chronic downtrend. Those short-term recoveries like the recent one were nothing but bear traps, guys 💀. The 1W RSI below 50 confirms the downward momentum, and the 4H MACD is also showing increasingly strong bearish momentum. The current price of $0.0631 is below both the 1H MA25 ($0.0635) and MA99 ($0.0639)—pretty tough going.
Derivatives data shows the funding rate is negative at -0.0877%/8h, and Open Interest has also dropped by 23.2% 📉, signaling that the short sellers are in control. Even though 66.7% of accounts are holding long positions, veteran traders know how it goes: sometimes the crowd is just there to get slaughtered 🫠.
Honestly, I’m leaning slightly toward the short side on this trade, $ERA , even though it breaks my heart 🥲.