Will ERGO stop falling?
Hello everyone! Today I want to share my view on the situation with ERGO.
After its previous all-time high, the asset has been losing its value for almost two years now, and no, it is not a scam. The development team is quite active, and the project is not abandoned. However, this is not the first time for ERGO. At the beginning, the asset also surged to $18 per coin, but after the bear market of 2018-2020, it dropped to around $0.12.
Currently, the asset has broken through a local support zone, and if it fails to return above it, we can expect a drop to around $0.82 per coin. The next support zone is located there.
A positive scenario would be if the asset manages to return and establish itself above $1.10. Then we can expect an attempt to break the descending trend line, followed by a break of the EMA200 and the 0.236 Fib level.
This is not financial advice, and everything you do is at your own risk!
After its previous all-time high, the asset has been losing its value for almost two years now, and no, it is not a scam. The development team is quite active, and the project is not abandoned. However, this is not the first time for ERGO. At the beginning, the asset also surged to $18 per coin, but after the bear market of 2018-2020, it dropped to around $0.12.
Currently, the asset has broken through a local support zone, and if it fails to return above it, we can expect a drop to around $0.82 per coin. The next support zone is located there.
A positive scenario would be if the asset manages to return and establish itself above $1.10. Then we can expect an attempt to break the descending trend line, followed by a break of the EMA200 and the 0.236 Fib level.
This is not financial advice, and everything you do is at your own risk!
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