ERG/USDT Start: ERGO reaches for the stars. 10x possible?

2021年8月9日

Intro:
- ERGO rebounds from 7.5$ and goes for new ATH.
- Unfortunately ERGO on tradingview does not show the full history. We include the resistance levels around 10$, 12.5$ and 17$.
But since we believe in this coin and its potential we will start covering it here.
- ERGO worked together with Charles from Cardano and they talk highly from each other which is a good thing if you believe in ADA and it's approach.
- Guys please give me some feedback to improve my charts, analysis and commentaries.


Daily chart on the left hand side:
- Price looks a bit like a short bullflag that broke out today.
- Volume drop for three days with one up day today that does not say anything yet.


4h chart on the right hand side:
- We see a failed bullflag that did rebound around 7.5$.
- No RSI analysis yet.

Expectation:
- We expect a fully grown bullrun for ERGO which seems undervalued at the moment.

Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place

Enjoy the ride and don't be too greedy.
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We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers

ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.