Everyone, $LIT got hit twice today at the key round-number level of 3.000.
The first time this morning, it wicked down to 3.000 and was immediately bought back up. An hour later, it tested the level again. It’s now at 3.0064, and that low hasn’t been broken.
Honestly, I watched those two lows for ages. At first glance, I thought I was seeing things.
It’s down just 2.863% over the past 7 days, but it plunged 7.417% in 24 hours. A week’s worth of losses was wiped out on that final day—the selling pressure came all at once.
It’s like opening the floodgates at a reservoir: the water rushes out, and you can see the remaining capacity more clearly.
The 20-day range is between 2.8258 and 3.9936. The current price is at the 15.41st percentile—low enough, but not so low that nobody’s paying attention.
With average daily volatility at 10.834%, repeatedly testing a round number like 3.000 at these levels is itself a sign that active players are probing for a bottom.
The supply is still there.
Is this kind of sell-off just shaking out weak hands, or is someone accumulating?
The real question for this sector is: where has the liquidity gone?
The perpetual DEX space is competing for market-making depth this year. There’s only so much liquidity to go around, and whoever’s closest to the pot gets served first. When trading volume contracts, market makers naturally pull back.
I don’t think the sector’s fundamentals have been written off; it looks more like the price has been pushed down.
What do you all think? Let’s discuss in the comments.
$BTC $ETH
#LIT #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of market data, and does not constitute investment advice.
The first time this morning, it wicked down to 3.000 and was immediately bought back up. An hour later, it tested the level again. It’s now at 3.0064, and that low hasn’t been broken.
Honestly, I watched those two lows for ages. At first glance, I thought I was seeing things.
It’s down just 2.863% over the past 7 days, but it plunged 7.417% in 24 hours. A week’s worth of losses was wiped out on that final day—the selling pressure came all at once.
It’s like opening the floodgates at a reservoir: the water rushes out, and you can see the remaining capacity more clearly.
The 20-day range is between 2.8258 and 3.9936. The current price is at the 15.41st percentile—low enough, but not so low that nobody’s paying attention.
With average daily volatility at 10.834%, repeatedly testing a round number like 3.000 at these levels is itself a sign that active players are probing for a bottom.
The supply is still there.
Is this kind of sell-off just shaking out weak hands, or is someone accumulating?
The real question for this sector is: where has the liquidity gone?
The perpetual DEX space is competing for market-making depth this year. There’s only so much liquidity to go around, and whoever’s closest to the pot gets served first. When trading volume contracts, market makers naturally pull back.
I don’t think the sector’s fundamentals have been written off; it looks more like the price has been pushed down.
What do you all think? Let’s discuss in the comments.
$BTC $ETH
#LIT #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of market data, and does not constitute investment advice.
