$IDOL 24 In 24 hours I drew a door—highest 0.0122 got smashed down to 0.0089, then pulled back to 0.0092; the amplitude is 37%. This kind of up-down “needle-in-the-thread” chart, put simply, is thin liquidity. A few big orders can whip the price around.
Lately there have been quite a few new coins listed in the Alpha sector, and capital is getting split up badly. The $IDOL day volume is only 7.67 million USD, and the pool is shallow. I don’t see any on-chain whales continuously accumulating, but instead retail folks are shouting in groups, “It can’t fall anymore, it should rebound.” I’ve seen this kind of sentiment a lot—right before Luna crashed, people were saying the same thing.
If the low at 0.0089 can’t be held, then what’s below is a free fall. On the other hand, if it can reclaim and hold above 0.0105 with increased volume, then the short-term play is there. At this spot, both bulls and bears are betting—don’t be the one who gets harvested by the needle-fishing.
$IDOL #行情分析 # On-chain data
Lately there have been quite a few new coins listed in the Alpha sector, and capital is getting split up badly. The $IDOL day volume is only 7.67 million USD, and the pool is shallow. I don’t see any on-chain whales continuously accumulating, but instead retail folks are shouting in groups, “It can’t fall anymore, it should rebound.” I’ve seen this kind of sentiment a lot—right before Luna crashed, people were saying the same thing.
If the low at 0.0089 can’t be held, then what’s below is a free fall. On the other hand, if it can reclaim and hold above 0.0105 with increased volume, then the short-term play is there. At this spot, both bulls and bears are betting—don’t be the one who gets harvested by the needle-fishing.
$IDOL #行情分析 # On-chain data