STONK suddenly saw a sharp volume-driven drop. Is there still support in the next window?
What really stole the spotlight this round was STONK’s price decline happening at the same time as accelerated trading volume, meaning selling pressure has already moved from the candlestick chart into actual trades. The data is right here: Solana chain trend pool #1, current price $0.141393, down 3.07% in the past hour, with 1.85 million stablecoins in hourly trading volume; over the past 24 hours, change of +32.76%, trading volume of 49.693 million stablecoins, liquidity of 2.759 million stablecoins, and buy/sell order counts in the past hour of 743/317
From here, there are only two possible paths: trading volume keeps expanding, which means selling pressure is still spreading; or the price stops falling and volume slows down, meaning panic is starting to be absorbed.
Trading view: STONK is temporarily bearish for observation, and I’m not chasing the first rebound. I’m watching only one condition: if in the next window the price stops falling and selling pressure slows, then this bearish call becomes invalid. If volume keeps accelerating and liquidity keeps thinning, the risk has not fully unwound yet; on the flip side, lower volume with a stable price is the first sign of recovery.
In the next window, are you betting on continuation or a pullback?
#STONK #SOL
What really stole the spotlight this round was STONK’s price decline happening at the same time as accelerated trading volume, meaning selling pressure has already moved from the candlestick chart into actual trades. The data is right here: Solana chain trend pool #1, current price $0.141393, down 3.07% in the past hour, with 1.85 million stablecoins in hourly trading volume; over the past 24 hours, change of +32.76%, trading volume of 49.693 million stablecoins, liquidity of 2.759 million stablecoins, and buy/sell order counts in the past hour of 743/317
From here, there are only two possible paths: trading volume keeps expanding, which means selling pressure is still spreading; or the price stops falling and volume slows down, meaning panic is starting to be absorbed.
Trading view: STONK is temporarily bearish for observation, and I’m not chasing the first rebound. I’m watching only one condition: if in the next window the price stops falling and selling pressure slows, then this bearish call becomes invalid. If volume keeps accelerating and liquidity keeps thinning, the risk has not fully unwound yet; on the flip side, lower volume with a stable price is the first sign of recovery.
In the next window, are you betting on continuation or a pullback?
#STONK #SOL