ERN USDT Ethernity Chain Technical Analysis

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By Frans van Elst

Ethernity Chain logo In this Ethernity Chain technical analysis, we will examine the current price action, trading volume, key levels and indicators for ERN-USDT. Ethernity Chain (ERN) is a decentralized blockchain platform that enables the creation and management of digital assets. It utilizes a proof-of-stake consensus algorithm to secure its network and ensure the integrity of transactions. With ERN, users can easily create, buy, sell, and trade unique digital assets, such as art, collectibles, and more.

Ethernity Chain Price Overview:

As of May 23, 2024, Ethernity Chain is trading at approximately 4.376 USDT. Let’s dive into the detailed price action for ERN-USDT:

Clearly see potential bearish trend for Ethernity Chain (ERNUSDT) at 4.38 USDT through detailed technical analysis, highlighting weakened support and cautionary indicators.

Metric Value
Open (O) 4.453
High (H) 4.646
Low (L) 4.325
Close (C) 4.376
Volume (C) 257,540.70
  • Open (O): The opening price for today’s trading session was approximately 4.453 USDT.
  • High (H): Ethernity Chain reached a daily high of around 4.646 USDT.
  • Low (L): The daily low for ERN-USDT was approximately 4.325 USDT.
  • Close (C): At the time of analysis, Ethernity Chain is trading near its daily close of 4.376 USDT.
Metric Value
1D Change (%) -1.86%
3D Change (%) -7.52%
7D Change (%) -2.60%
30D Change (%) -10.73%
90D Change (%) 84.41%
YTD Change (%) 111.50%

Over the past three days, ERNUSDT has dropped by approximately -7.52%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -2.60%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ERNUSDT maintaining a downward trend of approximately -10.73%, despite intermittent fluctuations. Examining the last 90 days, ERNUSDT has witnessed substantial rise of approximately 84.41%, reflecting strong long-term confidence. Year-to-date, ERNUSDT has steadily increased by around 111.50%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Ethernity Chain Live Chart:

You can access a live price chart for ERN-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 1.00655.
  • Momentum score is 0.1189.

ERN USDT Technical Analysis

Ethernity Chain Trading Volume:

The trading volume for Ethernity Chain (ERN) over the past 24 hours has been insignificant, with approximately 257,540.70 USDT traded against ERN. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): ERN is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Ethernity Chain is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for ERN-USDT is currently in the neutral zone, around 47.6162. This suggests that Ethernity Chain is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Ethernity Chain (ERN-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Clearly see potential bearish trend for Ethernity Chain (ERNUSDT) at 4.38 USDT through detailed technical analysis, highlighting weakened support and cautionary indicators.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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