$SANTOS , fresh liquidation map + some thoughts.
- Yesterday's short liquidations were completely cleared. Now new ones have appeared with slightly larger volumes.
- RSI is dropping from 80 to 58 — this was predictable.
- Over the last 12 hours, the delta of volumes is in favor of bears: $135K long VS $1M short.
According to technical analysis, conducting a retest of diagonal and horizontal support is OK.
The nearest solid support may be $2.62.
And the thought is this:
Out of all
#FanTokens , starting from 02.02.24, Santos structurally looks most similar to
#OGUSDT .
- Both did not make the last drop before the rise.
- During the rise, both hit resistance at 141 according to Fibonacci.
Other fan tokens have a different scenario.
OG started rising earlier — 08.03.
Based on it, one can assume what scenario
#santos might have and look ahead
(Market maker algorithmic trading is still in play.)
But this is not certain. A hypothesis for observation.