$LINK 11.25 USD, down 4.5% in 24 hours. This drop came with hardly any meaningful volume.
The real problem isn't the size of the drop—it's that there are no buyers left to catch it.
Over the past 24 1h candles, the largest had a trading volume of $7.7 million, and the average was only $4.6 million.
The $52.8 million sell-off candle on October 30 had eleven times today's volume.
This drop wasn't caused by a big sell-off. It slid lower as hourly volume of four or five million pushed it down for twenty-odd hours. With no one stepping in, it ended up like this.
Where did the volume go? It never came in.
Over the same period, $BTC fell just 0.2%. The losses were all in LINK itself.
I'm keeping an eye on 10.894, the low made by the October 30 sell-off. I've marked it on the chart. If it closes below that level, don't jump in yet.
It only counts as a recovery if it holds above 11.30. If it breaks below 11.20, look straight to 10.894.
A low-volume slide is the most grinding kind of decline; it doesn't even give you the satisfaction of a panic sell-off.
Are you still holding $LINK ? What’s your cost basis?
Source: https://www.binance.com/zh-CN/futures/LINKUSDT
The real problem isn't the size of the drop—it's that there are no buyers left to catch it.
Over the past 24 1h candles, the largest had a trading volume of $7.7 million, and the average was only $4.6 million.
The $52.8 million sell-off candle on October 30 had eleven times today's volume.
This drop wasn't caused by a big sell-off. It slid lower as hourly volume of four or five million pushed it down for twenty-odd hours. With no one stepping in, it ended up like this.
Where did the volume go? It never came in.
Over the same period, $BTC fell just 0.2%. The losses were all in LINK itself.
I'm keeping an eye on 10.894, the low made by the October 30 sell-off. I've marked it on the chart. If it closes below that level, don't jump in yet.
It only counts as a recovery if it holds above 11.30. If it breaks below 11.20, look straight to 10.894.
A low-volume slide is the most grinding kind of decline; it doesn't even give you the satisfaction of a panic sell-off.
Are you still holding $LINK ? What’s your cost basis?
Source: https://www.binance.com/zh-CN/futures/LINKUSDT
