$ARC 24h -51.14%, plunging from 0.06064 to 0.02195, with a trading volume of 108.8M. The drop itself isn’t the main point—the volume is.
The price was cut in half, yet trading volume topped 100 million. What does that tell us? This isn’t a slow bleed; someone is frantically swapping tokens in this range. After breaking below 0.03, volume didn’t dry up as the price stabilized. Instead, it kept increasing—a classic unloading pattern, with both profit-takers and panic sellers handing over their tokens.
The key level is 0.0219, the 24-hour low. If it holds, this could be a short-term bottoming area. But if it decisively breaks below, there isn’t much meaningful support underneath, and slippage could get ugly.
Personally, I wouldn’t buy in at this level. A high-volume continuation of a downtrend can look a lot like a high-volume bottom, but with a move like $ARC ’s, the latter looks like it may not be over yet. If you’re looking to play a bounce, wait for a low-volume bullish candle to confirm it. Don’t try to guess the bottom.
Keep an eye on 0.0219. Whether it breaks or holds will determine the direction.
The price was cut in half, yet trading volume topped 100 million. What does that tell us? This isn’t a slow bleed; someone is frantically swapping tokens in this range. After breaking below 0.03, volume didn’t dry up as the price stabilized. Instead, it kept increasing—a classic unloading pattern, with both profit-takers and panic sellers handing over their tokens.
The key level is 0.0219, the 24-hour low. If it holds, this could be a short-term bottoming area. But if it decisively breaks below, there isn’t much meaningful support underneath, and slippage could get ugly.
Personally, I wouldn’t buy in at this level. A high-volume continuation of a downtrend can look a lot like a high-volume bottom, but with a move like $ARC ’s, the latter looks like it may not be over yet. If you’re looking to play a bounce, wait for a low-volume bullish candle to confirm it. Don’t try to guess the bottom.
Keep an eye on 0.0219. Whether it breaks or holds will determine the direction.