$T /USDT (4h): vertical pump, high risk of a pullback
Move: Price is 0.00648 (+40% in 24h), after one giant green candle from about 0.0050 to 0.0079. It sits about 20% above MA(7) at 0.00537 and about 31% above MA(25) at 0.00495, which is very extended.
Rejection: The next candle has a long red wick that gave back part of the spike. The 0.00791 high was sold into, and a lower high is forming.
Volume: The spike came on huge volume (about 1.2B T). Volume then dropped sharply on the following candles, which is a typical fading-momentum sign after a news or pump-driven move.
Higher timeframe: The 1-year return is -50%. This is a sharp bounce, not a trend change, until it holds higher levels.
Levels
Resistance: 0.00658, then 0.00791.
Support: 0.00583, then about 0.00508 (the base of the pump, near MA(99)).
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Move: Price is 0.00648 (+40% in 24h), after one giant green candle from about 0.0050 to 0.0079. It sits about 20% above MA(7) at 0.00537 and about 31% above MA(25) at 0.00495, which is very extended.
Rejection: The next candle has a long red wick that gave back part of the spike. The 0.00791 high was sold into, and a lower high is forming.
Volume: The spike came on huge volume (about 1.2B T). Volume then dropped sharply on the following candles, which is a typical fading-momentum sign after a news or pump-driven move.
Higher timeframe: The 1-year return is -50%. This is a sharp bounce, not a trend change, until it holds higher levels.
Levels
Resistance: 0.00658, then 0.00791.
Support: 0.00583, then about 0.00508 (the base of the pump, near MA(99)).
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