$AKE This candlestick is looking pretty rough: it’s down 22.85% in 24 hours, with the price at 0.02451. It wicked straight down to 0.024446 and is now hovering near the low. Trading volume is 96.3M, so volume has picked up, but the move is downward pressure—not just turnover.
My bias is bearish. 0.0244 is today’s low and the only short-term support worth watching, but when support gets tested repeatedly, that’s not support—it’s being worn down. If it bounces, 0.0275–0.028 is the first resistance above, a spot where the downtrend could resume, not a reversal level.
Trading plan: don’t chase shorts, and don’t rush to buy the dip. If it breaks below 0.0244 on strong volume, the next level to watch is around 0.022. If you want to trade a bounce, wait for the price to reclaim 0.026 before considering an entry, with a stop below 0.0244. If the risk/reward doesn’t make sense, stay out. With a one-way selloff like this, trying to catch a bounce is like catching a falling knife 😑 Wait for the chart to form a clear structure first.
$AKE is showing a classic price-and-volume decline right now. Don’t try to tough it out.
My bias is bearish. 0.0244 is today’s low and the only short-term support worth watching, but when support gets tested repeatedly, that’s not support—it’s being worn down. If it bounces, 0.0275–0.028 is the first resistance above, a spot where the downtrend could resume, not a reversal level.
Trading plan: don’t chase shorts, and don’t rush to buy the dip. If it breaks below 0.0244 on strong volume, the next level to watch is around 0.022. If you want to trade a bounce, wait for the price to reclaim 0.026 before considering an entry, with a stop below 0.0244. If the risk/reward doesn’t make sense, stay out. With a one-way selloff like this, trying to catch a bounce is like catching a falling knife 😑 Wait for the chart to form a clear structure first.
$AKE is showing a classic price-and-volume decline right now. Don’t try to tough it out.