$CLANKER Surged before pulling back—is now a good time to go short?
It has fallen from $94 at launch to just $14.9. There are likely many holders trapped at higher prices, too. Looking at the chart, CLANKER traded sideways in a range and accumulated for a long time before rallying all the way up. This latest move was intended to shake out some of the short positions opened near the bottom.
It peaked at $16.77 before facing resistance and pulling back. On top of that, the project team had already capitalized on yesterday’s token unlock event. Once the positive news is fully priced in, it can become a negative catalyst. Each rally may simply provide a better opportunity to sell, and on-chain data shows funds flowing out as well.
Although there has been a slight rebound, the momentum remains weak. Each bounce has met resistance, and with nearly 100% of the tokens in circulation, a substantial rally will be very difficult. For now, the move is mainly driven by speculation around the unlock. You could wait for a rebound to around $15.5 to go short, with a target of $13.5.
【The views above are for personal reference only and do not constitute investment advice.】
#美国10月非农出炉：降息还有戏吗？ $ETH $BTC
It has fallen from $94 at launch to just $14.9. There are likely many holders trapped at higher prices, too. Looking at the chart, CLANKER traded sideways in a range and accumulated for a long time before rallying all the way up. This latest move was intended to shake out some of the short positions opened near the bottom.
It peaked at $16.77 before facing resistance and pulling back. On top of that, the project team had already capitalized on yesterday’s token unlock event. Once the positive news is fully priced in, it can become a negative catalyst. Each rally may simply provide a better opportunity to sell, and on-chain data shows funds flowing out as well.
Although there has been a slight rebound, the momentum remains weak. Each bounce has met resistance, and with nearly 100% of the tokens in circulation, a substantial rally will be very difficult. For now, the move is mainly driven by speculation around the unlock. You could wait for a rebound to around $15.5 to go short, with a target of $13.5.
【The views above are for personal reference only and do not constitute investment advice.】
#美国10月非农出炉：降息还有戏吗？ $ETH $BTC
