#vanar Based on market information and the BREV/USDT chart you provided, the reasons for its continuous decline and lack of effective rebound can be summarized into several core factors:
1. Profit-taking pressure after listing
BREV was listed on major exchanges like Binance and Bybit at the beginning of January, and early investors (including a large number of holders distributed through channels like Binance) concentrated their sell-offs after the listing to lock in profits, which directly triggered a rapid price drop. This concentrated selling created strong downward momentum, causing the price to lose support in the short term.
2. Market sentiment and cascading liquidations in contracts
The price drop triggered by profit-taking also triggered cascading liquidations in the contract market, further amplifying the downtrend. When the price broke below key support levels, market sentiment turned extremely pessimistic, with a lack of buying interest willing to enter the market, leading to a continuous decline in price without even technical rebound opportunities.
3. Token unlocks and rumors of large transfers
Recently, 598,600 BREV tokens were unlocked, raising concerns about supply surplus in the market. At the same time, on January 10, there were unverified rumors that "the project team transferred BREV worth $6.7 million to exchanges," further exacerbating investors' panic selling and causing the price to lose rebound momentum.
4. Technical breakdown
From your daily candlestick chart, you can see:
• The price has broken below the lower Bollinger Band (currently around 0.2503), entering the oversold area, but still lacks buying support.
• After the previous high of 0.5464, the price has been declining without forming a significant bottom pattern, indicating that the market is in a weak trend.
• The trading volume has not significantly increased during the decline, reflecting a current lack of proactive buying, more so passive selling. I can help you compile a list of key support and resistance levels for BREV, so you can observe potential rebound or breakdown signals more clearly. Would you like that?