$STBL plunged from 0.0365 all the way to 0.02314, down 24% in 24 hours, with $85.9M in trading volume—a noticeable spike. I’m inclined to think there may be another leg down, so I wouldn’t rush to catch a falling knife. 0.023 is today’s low and could serve as a short-term area to watch for signs of stabilization.
My take on trading it: if it holds above 0.023 and starts moving sideways on declining volume, you could try a small position for a bounce, with a stop-loss below 0.0225 and a target around 0.028—the midpoint of the previous drop. But if it breaks below 0.023 and volume keeps rising, take the loss and get out; don’t hold on. The next support is around 0.019, but it hasn’t reached that level yet.
Personally, I’d rather wait another day or two and see whether it can form a base in the 0.023–0.025 range. After a 24% daily drop like this, the risk-reward for chasing a bounce is only so-so until the panic has fully played out. Take it easy and let things unfold. $STBL
My take on trading it: if it holds above 0.023 and starts moving sideways on declining volume, you could try a small position for a bounce, with a stop-loss below 0.0225 and a target around 0.028—the midpoint of the previous drop. But if it breaks below 0.023 and volume keeps rising, take the loss and get out; don’t hold on. The next support is around 0.019, but it hasn’t reached that level yet.
Personally, I’d rather wait another day or two and see whether it can form a base in the 0.023–0.025 range. After a 24% daily drop like this, the risk-reward for chasing a bounce is only so-so until the panic has fully played out. Take it easy and let things unfold. $STBL