$CHIP 24 hours: up 33%, with trading volume just over 28 million U. That kind of volume relative to such a gain raises a question.
A 33% rise on less than 30 million in trades can mean only one of two things: either the market cap is small to begin with, so a few orders can move it, or someone is pushing the price up but buyers aren’t following through—the latter is more common. In a genuinely healthy move, volume expands along with price, rather than price outrunning volume.
I generally stay away from this kind of setup. Not because it can’t keep rising, but because you can’t tell when the last buyer will be left holding the bag. The sharper the rally and the thinner the volume, the harder the stampede when it pulls back.
Fine to watch from the sidelines, but don’t make yourself the star. #行情异动 #币圈观察 #CHIP
A 33% rise on less than 30 million in trades can mean only one of two things: either the market cap is small to begin with, so a few orders can move it, or someone is pushing the price up but buyers aren’t following through—the latter is more common. In a genuinely healthy move, volume expands along with price, rather than price outrunning volume.
I generally stay away from this kind of setup. Not because it can’t keep rising, but because you can’t tell when the last buyer will be left holding the bag. The sharper the rally and the thinner the volume, the harder the stampede when it pulls back.
Fine to watch from the sidelines, but don’t make yourself the star. #行情异动 #币圈观察 #CHIP