DNA briefly broke above 0.3 before falling back to 0.28
NeoSoul (DNA) surged above $0.30 intraday but failed to hold there. It is now at $0.28, with an FDV of $280 million and 24-hour trading volume of $37 million.
Trading volume represents an FDV turnover rate of over 13%. Trading has been extremely concentrated between $0.28 and $0.30. The upper wick left by the spike suggests that buy orders from market makers were too thin at this price level, and that the rally absorbed selling pressure from early holders who bought at lower prices. $0.26 was the launchpad for this rally. If the price pulls back on lower volume and holds there, it may be able to test $0.30 again and try to hold above it. But if it breaks below that level on heavy volume, the previous high-volume trading zone between $0.21 and $0.22 is the next area of support, with little in the way of accumulated positions in between. Price action has been weak and range-bound over the past few days. Incremental capital tends to leave small-cap assets the fastest, so any rebound will follow the broader market.
For those holding DNA, what’s your average cost? At $0.25, are you buying more or trimming your position?
$BTC $ETH $SOL
NeoSoul (DNA) surged above $0.30 intraday but failed to hold there. It is now at $0.28, with an FDV of $280 million and 24-hour trading volume of $37 million.
Trading volume represents an FDV turnover rate of over 13%. Trading has been extremely concentrated between $0.28 and $0.30. The upper wick left by the spike suggests that buy orders from market makers were too thin at this price level, and that the rally absorbed selling pressure from early holders who bought at lower prices. $0.26 was the launchpad for this rally. If the price pulls back on lower volume and holds there, it may be able to test $0.30 again and try to hold above it. But if it breaks below that level on heavy volume, the previous high-volume trading zone between $0.21 and $0.22 is the next area of support, with little in the way of accumulated positions in between. Price action has been weak and range-bound over the past few days. Incremental capital tends to leave small-cap assets the fastest, so any rebound will follow the broader market.
For those holding DNA, what’s your average cost? At $0.25, are you buying more or trimming your position?
$BTC $ETH $SOL