This wave hasn’t finished falling yet.
From $GENIUS 24, it was smashed all the way from 0.4547 down to 0.3282—down 21%. Turnover was 157 million, and turnover rate isn’t low, indicating that while someone is absorbing during the sell-off, the speed of the bids hasn’t kept up with the selling pressure. This is a high-volume sell-off structure, and there are no signs of a declining volume that would stop the fall.
Key data: 0.3148, the intraday low, is the current line of defense. If it breaks, it will open up the next stretch of space. The resistance around 0.3800—if the rebound reaches here, it will most likely be pushed back down.
In terms of action, set the stop-loss below 0.0310; if it breaks, don’t hesitate. For the short term, first watch whether it can hold above 0.0360. If it holds, then try to push for a move above 0.0420.
0.3148 / 0.3800 / 0.0420—do these three numbers match up? If they don’t, go back to the drawing board.
#GENIUS
From $GENIUS 24, it was smashed all the way from 0.4547 down to 0.3282—down 21%. Turnover was 157 million, and turnover rate isn’t low, indicating that while someone is absorbing during the sell-off, the speed of the bids hasn’t kept up with the selling pressure. This is a high-volume sell-off structure, and there are no signs of a declining volume that would stop the fall.
Key data: 0.3148, the intraday low, is the current line of defense. If it breaks, it will open up the next stretch of space. The resistance around 0.3800—if the rebound reaches here, it will most likely be pushed back down.
In terms of action, set the stop-loss below 0.0310; if it breaks, don’t hesitate. For the short term, first watch whether it can hold above 0.0360. If it holds, then try to push for a move above 0.0420.
0.3148 / 0.3800 / 0.0420—do these three numbers match up? If they don’t, go back to the drawing board.
#GENIUS