MMT fell 15.53% in 24h, and the last closed hourly candle traded at 6% of its own 20-bar average volume.
Price is 0.167, sitting 9.6% off the bottom of the 24h range. The sellers who drove it there have stopped showing up. On the 1h the EMA stack is bearish (9<21<50) with RSI at 32.69. On the 1d the stack is still bullish (9>21>50) with RSI at 50.75. Two timeframes disagree, and that gap is the whole trade.
0.1651 is where $MMT is decided - 44 measured touches on the hourly. Hold it and 0.171, touched 35 times, is the first honest test back up. Lose it and 0.1615 with 40 touches is the next floor. Below that the structure is gone.
The uncomfortable part: volume contradicts price. A 15% drawdown on 6% of average hourly volume is not distribution, it is absence. The move already happened while nobody was trading it.
Place it against the majors. $BTC gives you a tape you can size against. MMT prints a 20.05% daily ATR. Same screen, different instrument.
Which do you trust here - the price or the volume?
#MarketSentimentToday #WhaleMovements
Analysis, not financial advice.
Price is 0.167, sitting 9.6% off the bottom of the 24h range. The sellers who drove it there have stopped showing up. On the 1h the EMA stack is bearish (9<21<50) with RSI at 32.69. On the 1d the stack is still bullish (9>21>50) with RSI at 50.75. Two timeframes disagree, and that gap is the whole trade.
0.1651 is where $MMT is decided - 44 measured touches on the hourly. Hold it and 0.171, touched 35 times, is the first honest test back up. Lose it and 0.1615 with 40 touches is the next floor. Below that the structure is gone.
The uncomfortable part: volume contradicts price. A 15% drawdown on 6% of average hourly volume is not distribution, it is absence. The move already happened while nobody was trading it.
Place it against the majors. $BTC gives you a tape you can size against. MMT prints a 20.05% daily ATR. Same screen, different instrument.
Which do you trust here - the price or the volume?
#MarketSentimentToday #WhaleMovements
Analysis, not financial advice.