$TAC The trading volume is 9.3 billion units, and the turnover is only a bit over $24 million—take a look at this ratio.
The average price is below 0.0026. The volume is piled up as if it’s free, yet the price gets smashed from 0.003015 straight down to 0.002334, a drop of 15 percentage points. This kind of volume-price combination only has one explanation: someone is frantically catching at the low levels, but can’t absorb the sell pressure coming from above. In plain terms, it’s a mutual slaughter between longs and shorts at the bottom—no one got a bargain.
A turnover of $24 million is very thin for a coin with a daily swing of 20%. With such a large volume and such a small amount, it suggests the float is dispersed among a huge number of small accounts; institutions haven’t stepped in, and it’s just a show of retail traders picking at each other’s pockets. From the high at 0.003015 to now 0.002334, it’s almost half—an amplitude that wiped out the rebound once. This is a classic structure: sell-off on expanded volume followed by a contraction in volume with a slow, bearish drift.
The fee rate of 0.0050% is as if nothing happened. Longs and shorts are both not making a stand, which shows this drop isn’t driven by a short squeeze liquidation—this is spot selling, plain and simple. This kind of slow grind downward is the most exhausting: it won’t likely form a V-shaped reversal. Most likely it will keep churning in the 0.0022 to 0.0026 range for a few more days.
My view: don’t bottom-fish in the short term—wait until the volume shrinks to 3 billion or
#TAC
The average price is below 0.0026. The volume is piled up as if it’s free, yet the price gets smashed from 0.003015 straight down to 0.002334, a drop of 15 percentage points. This kind of volume-price combination only has one explanation: someone is frantically catching at the low levels, but can’t absorb the sell pressure coming from above. In plain terms, it’s a mutual slaughter between longs and shorts at the bottom—no one got a bargain.
A turnover of $24 million is very thin for a coin with a daily swing of 20%. With such a large volume and such a small amount, it suggests the float is dispersed among a huge number of small accounts; institutions haven’t stepped in, and it’s just a show of retail traders picking at each other’s pockets. From the high at 0.003015 to now 0.002334, it’s almost half—an amplitude that wiped out the rebound once. This is a classic structure: sell-off on expanded volume followed by a contraction in volume with a slow, bearish drift.
The fee rate of 0.0050% is as if nothing happened. Longs and shorts are both not making a stand, which shows this drop isn’t driven by a short squeeze liquidation—this is spot selling, plain and simple. This kind of slow grind downward is the most exhausting: it won’t likely form a V-shaped reversal. Most likely it will keep churning in the 0.0022 to 0.0026 range for a few more days.
My view: don’t bottom-fish in the short term—wait until the volume shrinks to 3 billion or
#TAC