On this 24-hour candle for $GRIFFAIN , it's down 34.66%—just looking at it gives me a cold sweat. Trading volume is 92.4M, which isn't exactly low, so this doesn't look like a liquidity-driven dump; people are genuinely selling.
The low was 0.014277, just a hair below the current price of 0.0167. I think this move may not be done falling yet. Since the high of 0.0259, it's been pretty much a one-way slide, with no convincing signs of a bottom along the way, and weak volume on the bounces.
There are two key levels to watch: 0.0143 below is the recent low. If it breaks, the price will probably head straight for the next support zone around 0.0120. Above, 0.0185 is near-term resistance; if it can't get above that, the trend is still weak. If I were to enter, I'd take a small position near 0.0145 for a possible bounce, with a stop-loss at 0.0138. If that breaks, I'm out—no holding and hoping.
If you're looking to short, don't chase it lower. Wait for a bounce toward 0.018 before reassessing; jumping in now could get you burned by a single bullish candle. This coin has a strong market-maker feel to it, so keep your position size very small.
The low was 0.014277, just a hair below the current price of 0.0167. I think this move may not be done falling yet. Since the high of 0.0259, it's been pretty much a one-way slide, with no convincing signs of a bottom along the way, and weak volume on the bounces.
There are two key levels to watch: 0.0143 below is the recent low. If it breaks, the price will probably head straight for the next support zone around 0.0120. Above, 0.0185 is near-term resistance; if it can't get above that, the trend is still weak. If I were to enter, I'd take a small position near 0.0145 for a possible bounce, with a stop-loss at 0.0138. If that breaks, I'm out—no holding and hoping.
If you're looking to short, don't chase it lower. Wait for a bounce toward 0.018 before reassessing; jumping in now could get you burned by a single bullish candle. This coin has a strong market-maker feel to it, so keep your position size very small.
