ErX’s high-level technical analysis has already issued multiple adjustment warning signals. In the early stage, it kept rising in step with the overall market. The bullish momentum was entirely driven forward by market sentiment. After reaching synchronized highs, profit-taking in the market was concentratedly realized, and a large volume of take-profit sell orders surged out, directly weakening upward momentum.

The short-term upward push has stalled; the trend lines are gradually flattening. A bearish trend structure is currently forming and taking shape. Short-term downside pressure continues to accumulate. From a longer-cycle perspective, the medium- to long-term upward channel has not been completely broken, but the rapid short-term rally has widened the price gap versus the medium- to long-term moving average center. Such an excessively high positive deviation must be corrected through a pullback.

In addition, ErX’s short-term is about to turn weaker. The crypto market has extremely strong correlation, so ErX, as a core mainstream coin, will face synchronized pressure. At this stage, you can look for bearish opportunities in the short term. Do not hold long positions with heavy size at high levels. On rebounds to pressure points, you can plan short orders.

Trading suggestion: Short around 1800–1830, targeting 1750–1720 downward. If it breaks below 1700 and 1650.
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