Former Hack VC partner, former Stellar and Solana executive Chen Xin-zhu, 37, dies suddenly; $XLM and $SOL tumble in response. $XLM falls 5.49% to $0.203, while $SOL drops 2.9% to $114.65.
At 5 a.m. in the dead of night, every short-term trader worldwide is staring at the charts. A sudden negative catalyst hits, but there’s no huge surge in volume. The market maker likely uses the news to dump in order to shake out and wash floating positions—this isn’t panic selling.
If you’re holding $XLM and $SOL spot, don’t panic. Wait for the daily chart to pull back and confirm support before considering adding to your position. For futures players, reduce leverage to the minimum—don’t get taken out by a price spike.
Is this market maker’s move meant for accumulation or distribution? Accumulation deduct 1, distribution deduct 2.
#Write2Earn #BinanceSquare #XLM Solana #TradingTournament
At 5 a.m. in the dead of night, every short-term trader worldwide is staring at the charts. A sudden negative catalyst hits, but there’s no huge surge in volume. The market maker likely uses the news to dump in order to shake out and wash floating positions—this isn’t panic selling.
If you’re holding $XLM and $SOL spot, don’t panic. Wait for the daily chart to pull back and confirm support before considering adding to your position. For futures players, reduce leverage to the minimum—don’t get taken out by a price spike.
Is this market maker’s move meant for accumulation or distribution? Accumulation deduct 1, distribution deduct 2.
#Write2Earn #BinanceSquare #XLM Solana #TradingTournament
