🐋 $XLM broke below its one-year low of 0.136, with 24-hour trading volume reaching 1.8 times the daily average.
Long-position stop-loss orders are usually placed below a swing low, so a break below it on such heavy volume suggests those stops are being triggered. Once the stop-loss selling is exhausted, a large buyer stepping in could spark a rebound; if no one steps in, the price may continue searching for support.
Long-position stop-loss orders are usually placed below a swing low, so a break below it on such heavy volume suggests those stops are being triggered. Once the stop-loss selling is exhausted, a large buyer stepping in could spark a rebound; if no one steps in, the price may continue searching for support.