A shift in market positioning: $PYTH 5-minute plunge of 2.39%
To gauge the strength of selling pressure, I usually watch two details first:
· Are there sustained aggressive sell orders during the decline?
· After the price is pushed lower, are large orders stepping in to absorb the selling?
For comparison: 24h trading volume: $6.12 million; 24h change: -6.77%. If both are present, it’s probably just a change of hands. If only the first is present, beware of further selling pressure.
#PYTH
To gauge the strength of selling pressure, I usually watch two details first:
· Are there sustained aggressive sell orders during the decline?
· After the price is pushed lower, are large orders stepping in to absorb the selling?
For comparison: 24h trading volume: $6.12 million; 24h change: -6.77%. If both are present, it’s probably just a change of hands. If only the first is present, beware of further selling pressure.
#PYTH