The candle after the $SHELL spike traded more than the candle that made the high.
On Nov. 13, MyShell hit 0.05163 USDT on Binance Spot. The next 15-minute candle closed near 0.0400, with 3.28 million USDT changing hands, up from 2.44 million in the candle that set the high.
Here’s what stood out to me. Sellers were more aggressive in that next candle. About 59% of the turnover came from trades initiated by sellers. Some early buyers may have been taking profits into the spike. The trade data shows who crossed the spread to sell, but it can’t tell us why they sold.
By 06:56 UTC on Nov. 14, SHELL/USDT was near 0.0322. That was roughly 38% below the high and still 66% above where the 24-hour window began.
The price I’d keep on my chart is 0.0400. That’s where the first heavy sell-off candle closed. If SHELL gets back there, I’d watch whether spot buyers can keep it above that area after the initial push.
#MyShell #SpotVolume
On Nov. 13, MyShell hit 0.05163 USDT on Binance Spot. The next 15-minute candle closed near 0.0400, with 3.28 million USDT changing hands, up from 2.44 million in the candle that set the high.
Here’s what stood out to me. Sellers were more aggressive in that next candle. About 59% of the turnover came from trades initiated by sellers. Some early buyers may have been taking profits into the spike. The trade data shows who crossed the spread to sell, but it can’t tell us why they sold.
By 06:56 UTC on Nov. 14, SHELL/USDT was near 0.0322. That was roughly 38% below the high and still 66% above where the 24-hour window began.
The price I’d keep on my chart is 0.0400. That’s where the first heavy sell-off candle closed. If SHELL gets back there, I’d watch whether spot buyers can keep it above that area after the initial push.
#MyShell #SpotVolume
