📊 ERN/USDT (1H) Trading Signal & Analysis

đŸ”„ Price Action:

ERN has been trading within an upper channel on the 1-hour timeframe. The recent dip from the channel’s upper boundary has brought the price to the key support zone around $1.951, which is a critical level to watch. The price is now looking to bounce from this zone with a potential breakout upwards.

🔍 Technical Indicators:

‱ RSI: The RSI shows a downward trend but is now approaching an oversold level near 44.25. This suggests that buying pressure could start to build up, pushing the price higher.

‱ MA50: The price has been consolidating near the 50-period moving average, which may act as dynamic support.

📈 Bullish Targets:

‱ First target: $2.069

‱ Second target: $2.165

‱ Ultimate target: $2.281

🔑 Conclusion:

ERN is poised for a strong upward movement if it holds the current support zone. Watch for a bounce from $1.951 with potential targets up to $2.281. If the RSI shows reversal signals, this could confirm the upward momentum.

🚀 Trade Setup:

‱ Entry: Near $1.951

‱ Take Profit: $2.069, $2.165, $2.281

‱ Stop Loss: Below $1.880

📅 Timeline: Look for this setup to play out within the next 24-48 hours as ERN attempts to break out of its current range.

$ERN

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