yesterday I was sure that analyzing $TUT and $VELVET would show a sharp downward sign this week and it turned out to be true. it could even see further decline! because of extreme selling pressure, high volume, 2 bottom floors breaking through [ failed ], all breakdowns and reclaiming several key supports. without confirmation of a pinbar/hammer, nackline, a reversal spike in volume, and so on
meanwhile $VELVET to experience quite dangerous pressure! because the top 3 wallets hold 73%+ of the total supply, with one wallet holding 46.8% ($820M+). These whales are dumping at the top, with leverage positions worth $32M+ getting liquidated
market conditions are fierce & risky! I have analyzed these 2 tokens for 3 days. Wait for a strong reversal or recovery signal to get momentum if you want to buy or go long. You can use scalping or scale-in DCA methods to capture short/small profits and anticipate losses
I hope this brief information is useful.