- Ergo (ERG) resisted a broader cryptocurrency selloff that caused $19 billion in liquidations, holding firm near its key support zone around $0.60.
- ERG is forming a falling wedge pattern on the daily chart, a technical structure that often signals selling exhaustion and potential bullish reversal.
- The token bounced from $0.60 support to $0.64, showing early resilience and suggesting bears may be losing strength.
- Key upside targets include the 50-day MA at $0.7806 and 200-day MA at $0.8556, with a move above the latter potentially confirming a broader bullish phase.
Date: Sun, Oct 12, 2025 | 11:6 AM GMT
After one of the most unforgettable and painful events on Friday night that wiped out nearly $19 billion in liquidations, the cryptocurrency market is showing flat momentum today — with only a few altcoins standing strong. One such coin is Ergo (ERG), which managed to resist the broader selloff and hold firm near its key support zone.
Now, ERG is back in green after holding its ground, and its emerging technical setup hints at a potential upside breakout in the near term.
Falling Wedge Pattern in Play
On the daily chart, ERG appears to be forming a falling wedge pattern — a classic technical structure that often indicates selling exhaustion and signals that a bullish reversal may be approaching.
The recent correction drove ERG down to the wedge’s lower boundary near $0.60, which has so far acted as a solid support zone for buyers to step in. From there, the token has managed to bounce toward $0.64, showing early resilience even as broader market sentiment remains cautious.
This bounce suggests that bears may be losing strength, and if this wedge pattern continues to hold, ERG could be building the foundation for a potential trend reversal in the coming weeks.
What’s Next for ERG?
ERG is now showing the first signs of a bullish reversal setup, but before making a decisive breakout, the token could continue to consolidate within its narrow trading range for a while. If buyers show renewed interest at current levels, a rebound from the wedge’s lower boundary could lead to a bullish breakout above the upper resistance trendline.
In that case, the next potential upside targets lie near the 50-day moving average (MA) at $0.7806 and the 200-day MA at $0.8556 — both critical levels that could determine whether the token regains full bullish momentum.
A sustained move above the 200-day MA would not only confirm ERG’s recovery from the recent chaos but could also signal the beginning of a broader bullish phase.
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