$US This price line at 2 a.m. woke me right up.
The current price is around 0.0204, down nearly 40% in a day. It plunged straight from a high of 0.0364 to 0.0202, with 510 million USDT in 24-hour trading volume. Note: this isn't a dead coin nobody's trading—people are frantically trading it back and forth.
Everyone in the market is shouting that it's going to zero, but I think something's off about this price level. With 510 million in volume coming in, the price only touched 0.0202 and held there, without breaking lower. That suggests there's money buying at this level. There was no news—just panic selling and liquidations. A drop like this is often a one-time release of market panic.
I'm leaning bullish. 0.0202 is the current floor. As long as a retest holds above that level, I'll keep looking for a rebound, with 0.025 as the first target. If it gets back above that, then I'll look at 0.03. If it breaks below 0.0202 and can't recover, I'll admit I was wrong and exit. That's the one line that defines the risk.
An oversold bounce like this isn't unlikely in the fourth quarter, especially while volume is still there.
Glad I hadn't gone to bed yet and caught this price. By the time you wake up, it may already be at a different price.
The current price is around 0.0204, down nearly 40% in a day. It plunged straight from a high of 0.0364 to 0.0202, with 510 million USDT in 24-hour trading volume. Note: this isn't a dead coin nobody's trading—people are frantically trading it back and forth.
Everyone in the market is shouting that it's going to zero, but I think something's off about this price level. With 510 million in volume coming in, the price only touched 0.0202 and held there, without breaking lower. That suggests there's money buying at this level. There was no news—just panic selling and liquidations. A drop like this is often a one-time release of market panic.
I'm leaning bullish. 0.0202 is the current floor. As long as a retest holds above that level, I'll keep looking for a rebound, with 0.025 as the first target. If it gets back above that, then I'll look at 0.03. If it breaks below 0.0202 and can't recover, I'll admit I was wrong and exit. That's the one line that defines the risk.
An oversold bounce like this isn't unlikely in the fourth quarter, especially while volume is still there.
Glad I hadn't gone to bed yet and caught this price. By the time you wake up, it may already be at a different price.