$ERA at 0.0848, up 16.4%. But what matters more to me than the percentage is that the funding rate is still negative; that means short sellers are still paying to hold their positions despite the rally, creating the potential for a short-term squeeze if the price stays above support.
Support is at 0.0790–0.0825, with resistance at 0.0915 and then 0.0979.
On the other hand, November 17 is not far off: the unlock of around 23.31 million tokens, worth approximately $1.66 million, puts supply pressure on the market that cannot be ignored. If the figures are accurate, that alone is enough to make any rally before then fragile.
I expect the market to test 0.0915 before it absorbs the impact of the unlock, because selling pressure from short positions is still present. If the price clearly breaks below 0.0790, I would consider the scenario invalidated.
This is analysis, not financial advice.
If you found this post helpful, we’d appreciate your support with a like 👍
#ERA #Caldera #BinanceSquare
Support is at 0.0790–0.0825, with resistance at 0.0915 and then 0.0979.
On the other hand, November 17 is not far off: the unlock of around 23.31 million tokens, worth approximately $1.66 million, puts supply pressure on the market that cannot be ignored. If the figures are accurate, that alone is enough to make any rally before then fragile.
I expect the market to test 0.0915 before it absorbs the impact of the unlock, because selling pressure from short positions is still present. If the price clearly breaks below 0.0790, I would consider the scenario invalidated.
This is analysis, not financial advice.
If you found this post helpful, we’d appreciate your support with a like 👍
#ERA #Caldera #BinanceSquare
