Let's take a look at $ERA . The price is currently testing the 0.07752 area, and as long as the hourly structure remains below 0.07831, I'm leaning more toward a decline. The daily and weekly charts, as well as BTC, also remain bearish.
I would wait for another move into the 0.07752–0.07831 zone. If strong selling pressure appears there, such as a bearish engulfing pattern or a pin bar, and a reversal downward is confirmed on a lower timeframe, a short position could be considered.
The nearest target is 0.07621, followed by 0.07201. If sellers manage to break below that level, the next reference points will be 0.07129 and 0.07007.
The next area of demand below that is around 0.06920.
But there's also a reason to be cautious: open interest is rising, and funding creates a risk of a sharp move against short positions.
At the same time, buying and selling activity is still roughly balanced, so there is no clear confirmation of a further decline yet.
For me, the key level is 0.07831. If an hourly candle closes above it, the bearish scenario will need to be reconsidered.
For now, I wouldn't rush into a trade. It's better to wait for a reaction in the resistance zone and make a decision only after confirmation.
I would wait for another move into the 0.07752–0.07831 zone. If strong selling pressure appears there, such as a bearish engulfing pattern or a pin bar, and a reversal downward is confirmed on a lower timeframe, a short position could be considered.
The nearest target is 0.07621, followed by 0.07201. If sellers manage to break below that level, the next reference points will be 0.07129 and 0.07007.
The next area of demand below that is around 0.06920.
But there's also a reason to be cautious: open interest is rising, and funding creates a risk of a sharp move against short positions.
At the same time, buying and selling activity is still roughly balanced, so there is no clear confirmation of a further decline yet.
For me, the key level is 0.07831. If an hourly candle closes above it, the bearish scenario will need to be reconsidered.
For now, I wouldn't rush into a trade. It's better to wait for a reaction in the resistance zone and make a decision only after confirmation.