$REQ, the green is a bit blinding, damn.
Current price around 0.051
Down about 9.1% in 24h, with relatively weak volume
Analysis:
The 5-minute candle just now dumped 6 points straight, that cut was brutal and gave people no time to react. The price slid all the way from 0.0573 to 0.05, and is now barely holding at 0.051, but the rebound doesn’t look very strong. Weak volume means buyers aren’t very active, while the sellers are pretty determined. The 0.05 level is a short-term hurdle; if it can’t hold, it may need to chop around for a while below. Damn, what’s most annoying about this kind of move is you can’t tell whether it’s a shakeout or real distribution, so you can only keep watching. Did this wave hold up or not?
Current price around 0.051
Down about 9.1% in 24h, with relatively weak volume
Analysis:
The 5-minute candle just now dumped 6 points straight, that cut was brutal and gave people no time to react. The price slid all the way from 0.0573 to 0.05, and is now barely holding at 0.051, but the rebound doesn’t look very strong. Weak volume means buyers aren’t very active, while the sellers are pretty determined. The 0.05 level is a short-term hurdle; if it can’t hold, it may need to chop around for a while below. Damn, what’s most annoying about this kind of move is you can’t tell whether it’s a shakeout or real distribution, so you can only keep watching. Did this wave hold up or not?
