🔍 Technical Analysis of the asset ERAUSDT 4H

The chart shows a descending triangle that has formed since mid-July, with lower highs and a stable support zone around $1.11–$1.12. This pattern is often interpreted as bearish, especially if a breakdown occurs downward.
📉 Key Observations:
✅ Trend:
The price is moving within a descending triangle, testing the support level near $1.12. Selling pressure is increasing, and if a downward breakout occurs, an acceleration of the decline can be expected.
✅ Indicators:
MA(7), MA(25), MA(99) — all moving averages are located above the current price, confirming the bearish sentiment.
Parabolic SAR ( points above the price ) also indicates pressure from above.
Ichimoku Cloud — the price is below the cloud and also below the Tenkan and Kijun lines, indicating the dominance of sellers.
✅ Key levels:
Support: $1.11
Resistance: $1.22–$1.25
Breaking through support may lead to a decline into the $1.00 zone and below, if the volume and trend are maintained.
📊 Possible scenarios:
🔺 Bullish (less likely):
If a breakout occurs above the upper boundary of the triangle (~$1.18–$1.20) on increased volume, a test of the $1.25–$1.30 zone can be expected, followed by $1.35.
🔻 Bearish (main scenario):
A break below $1.11 with a consolidation will indicate a continuation of the decline. Potential targets: $1.00 and $0.90 as the nearest liquidity levels.
💡 Conclusion:
At the moment, the asset is in a zone of uncertainty, but with a clear bearish bias. A key trigger will be the breakout of one of the triangle's boundaries. Given the weakness of buyers and the lack of momentum, a downward breakout looks more likely.
📌 Recommendation: observe the breakout from the triangle and accompany the direction on the breakout with volume confirmation.