EUL just dumped 30% from its 72h peak — classic distribution pattern.
Look at the chart: pumped from $1.58 to $1.93 on thin volume, then sellers slammed it down through $1.42 support with a massive 32M+ volume spike. That is institutional-level selling, not retail panic.
The breakdown candle through $1.42 was the signal. When volume spikes 15x on a support break, follow the volume, not the hopium.
Now sitting at $1.34 with the MA20 curving down hard. Next support sits around $1.28-1.30. If that cracks, we are looking at $1.15 territory.
$EUL is showing textbook distribution: low-volume pump, consolidation, high-volume breakdown. Watch for a retest of $1.42 as resistance.
What do you think — dead cat bounce incoming or more pain ahead?
DYOR. Not financial advice.
Look at the chart: pumped from $1.58 to $1.93 on thin volume, then sellers slammed it down through $1.42 support with a massive 32M+ volume spike. That is institutional-level selling, not retail panic.
The breakdown candle through $1.42 was the signal. When volume spikes 15x on a support break, follow the volume, not the hopium.
Now sitting at $1.34 with the MA20 curving down hard. Next support sits around $1.28-1.30. If that cracks, we are looking at $1.15 territory.
$EUL is showing textbook distribution: low-volume pump, consolidation, high-volume breakdown. Watch for a retest of $1.42 as resistance.
What do you think — dead cat bounce incoming or more pain ahead?
DYOR. Not financial advice.