Have you had this kind of experience—opening the leaderboard and seeing a red candle with a -17.92% drop, and instinctively thinking, "Oh no, I’m late".
That line—$IDOL —does have quite a damaging effect, but the turnover of 25.63 million, compared to its usual daily volume, isn’t magnified. This indicates the selling pressure has been built up slowly, not caused by a single large holder dumping all at once. With this kind of "slow-cooked frog" decline, it’s actually harder to judge than a big, volume-expansion long bearish candle—because without a wave of panic selling being absorbed, a true support/turning point hasn’t appeared yet.
At a price of 0.00962, it has already dropped below the previous low of 0.00909, not far above. The next support to watch is around 0.0085. If it breaks down with increased volume, you need to be alert to an acceleration phase. If you’re looking for a rebound, set your stop loss below 0.0090, first see whether it can reclaim the 0.0105–0.0110 range. Only if it rebounds with volume back above 0.01214 should you consider that the uptrend may continue.
A low-volume, grinding bearish move isn’t something to fear. What matters is when volume starts piling up—because that’s when the bottom signal appears.
#IDOL
That line—$IDOL —does have quite a damaging effect, but the turnover of 25.63 million, compared to its usual daily volume, isn’t magnified. This indicates the selling pressure has been built up slowly, not caused by a single large holder dumping all at once. With this kind of "slow-cooked frog" decline, it’s actually harder to judge than a big, volume-expansion long bearish candle—because without a wave of panic selling being absorbed, a true support/turning point hasn’t appeared yet.
At a price of 0.00962, it has already dropped below the previous low of 0.00909, not far above. The next support to watch is around 0.0085. If it breaks down with increased volume, you need to be alert to an acceleration phase. If you’re looking for a rebound, set your stop loss below 0.0090, first see whether it can reclaim the 0.0105–0.0110 range. Only if it rebounds with volume back above 0.01214 should you consider that the uptrend may continue.
A low-volume, grinding bearish move isn’t something to fear. What matters is when volume starts piling up—because that’s when the bottom signal appears.
#IDOL