DNA tapped $0.3 and got slammed back down
GMGN data for October 16: NeoSoul (DNA) briefly broke above $0.3 before falling back to $0.28, with an FDV of $280 million and $37 million in 24-hour trading volume.
$37 million in volume against a $280 million FDV means turnover isn’t low, suggesting short-term holders were selling into this rally. Buyers who chased above $0.3 are now sitting on losses, creating the first layer of selling pressure. In the short term, the question is whether it can hold between $0.25 and $0.26. If it does, this could be a pullback before another push. A second rally is only on the cards if it holds steady and climbs back above $0.3 on rising volume. If it falls below $0.25, it’ll likely get shaken out toward around $0.22. If SOL weakens even a little, high-beta tokens like this tend to fall faster.
Would you chase it at $0.28, or wait for a pullback and place a buy order at $0.25?
$DNA $SOL $BONK
GMGN data for October 16: NeoSoul (DNA) briefly broke above $0.3 before falling back to $0.28, with an FDV of $280 million and $37 million in 24-hour trading volume.
$37 million in volume against a $280 million FDV means turnover isn’t low, suggesting short-term holders were selling into this rally. Buyers who chased above $0.3 are now sitting on losses, creating the first layer of selling pressure. In the short term, the question is whether it can hold between $0.25 and $0.26. If it does, this could be a pullback before another push. A second rally is only on the cards if it holds steady and climbs back above $0.3 on rising volume. If it falls below $0.25, it’ll likely get shaken out toward around $0.22. If SOL weakens even a little, high-beta tokens like this tend to fall faster.
Would you chase it at $0.28, or wait for a pullback and place a buy order at $0.25?
$DNA $SOL $BONK