The biggest loser had a steady pace of selling.
$PEPE fell 12.1% in 24 hours. Of the hourly candles over the past day, 16 closed lower, with the largest single-hour drop just 2.2%.
Spread those twelve percentage points across the hours, and the average is -0.51% per hour. Aggressive buys accounted for an average of 46.8% of trading volume, with 17 hourly candles below 50%.
During these three hours of the European session, it traded $7.34 million—2.23 times the volume at the same time over the previous seven trading days. Volume is rising, but the price keeps falling.
$SOL also saw volume pick up during the European session, trading at 1.25 times its seven-day average. In the final hour, aggressive buys accounted for 74.3%, and the price rose 0.51%. $UNI also saw European-session volume reach 1.65 times its average, but recovered just 0.86% by the close and remains down 3.36% over 24 hours.
This means sellers are accelerating, but the order book has never gapped down. Steady selling won't trigger clustered liquidations, so even if there's a rebound in tonight's U.S. session, it lacks the kind of short squeeze that sends the price soaring in a single candle. I'm bearish in the short term because this structure has no forced buyers.
A December rate hike is already priced in at close to 90%, so there's no reason for fresh money to come in early.
One thing I'm watching: within the first two hours after the U.S. market opens, if $PEPE drops more than 3% in a single hour while volume surges past $5 million, I'll change my view—that would be the start of a capitulation.
Which do you choose: wait for the first sharp, high-volume drop before acting, or start buying gradually now as it steadily drifts lower?
$PEPE $SOL $UNI #BinanceSquare #Pepe #HotCPIDecemberHikePriced
Crypto assets are high-risk. The above is my personal observation and does not constitute investment advice. Please make your own judgment (DYOR).
$PEPE fell 12.1% in 24 hours. Of the hourly candles over the past day, 16 closed lower, with the largest single-hour drop just 2.2%.
Spread those twelve percentage points across the hours, and the average is -0.51% per hour. Aggressive buys accounted for an average of 46.8% of trading volume, with 17 hourly candles below 50%.
During these three hours of the European session, it traded $7.34 million—2.23 times the volume at the same time over the previous seven trading days. Volume is rising, but the price keeps falling.
$SOL also saw volume pick up during the European session, trading at 1.25 times its seven-day average. In the final hour, aggressive buys accounted for 74.3%, and the price rose 0.51%. $UNI also saw European-session volume reach 1.65 times its average, but recovered just 0.86% by the close and remains down 3.36% over 24 hours.
This means sellers are accelerating, but the order book has never gapped down. Steady selling won't trigger clustered liquidations, so even if there's a rebound in tonight's U.S. session, it lacks the kind of short squeeze that sends the price soaring in a single candle. I'm bearish in the short term because this structure has no forced buyers.
A December rate hike is already priced in at close to 90%, so there's no reason for fresh money to come in early.
One thing I'm watching: within the first two hours after the U.S. market opens, if $PEPE drops more than 3% in a single hour while volume surges past $5 million, I'll change my view—that would be the start of a capitulation.
Which do you choose: wait for the first sharp, high-volume drop before acting, or start buying gradually now as it steadily drifts lower?
$PEPE $SOL $UNI #BinanceSquare #Pepe #HotCPIDecemberHikePriced
Crypto assets are high-risk. The above is my personal observation and does not constitute investment advice. Please make your own judgment (DYOR).
