【Those days of sideways trading, what happened later】
In the first half of 2018, I saw this scene. EOS fell from 23, then got cut in half, then moved sideways for a while until everyone got too lazy to look at it—then came a single bullish candle—followed by more sideways trading. Sideways until you start to doubt your life, sideways until nobody in the group brings it up anymore.
PUMP is in exactly this state now.
At the price of $ 0.0027, it’s down 3% in 24 hours, and up less than 2% over 7 days. You can’t really call it “up,” but it also hasn’t truly “fallen.” The key support is 0.002648, resistance is 0.00286—stuck in this range.
How am I looking at this week? Honestly, I’m a bit drowsy from watching the charts.
The volume is still there, which means it hasn’t fully gone cold. But there’s no direction—capital inside the market is waiting for a signal.
What was my action this week? I took a couple of looks, wanted to move, but didn’t. Keeping my hand, holding back. This kind of “watching from an empty position” actually makes me feel like an old hand.
There’s something worth mentioning. The data leak from SafePal exposed order information for nearly 40,000 users. The private keys are fine—but what does this mean by itself? It means the industry’s foundational infrastructure is still out in the open. Every time something like this happens, the average retail trader’s first reaction isn’t “what does this have to do with me,” but “the coin will be dropping.” Emotions run with the news.
Now the FNG index is 34—Fear, but not extreme. In this kind of sentiment, the market is the most annoying—not the crash that scares you out of the trade, but the slow grind: you wait it out until you’re numb, until you think, “that’s just how it is,” and then the direction finally comes.
As for valuation—down 69% from the highs, it’s definitely low enough. Undervalued is true, but low valuation doesn’t mean you’ve found the bottom; it only means there’s a story you can tell. Whether that story can actually play out depends on whether there’s something catalyzing it next week.
What should I watch next week? Whether volume can expand, and also the external news landscape. Honestly, in this kind of market, the thing you fear most isn’t losing money—it’s missing the move. You might have been right about the direction, but your position didn’t follow. If next week really gives a direction, I need to make sure I’m at the table, not outside watching the excitement.
Has my view changed this week? It can be said that it has, or it can be said that it hasn’t. What’s changed is: the market is even more grinding than I expected. What hasn’t changed is: I’m still in that itchy-but-not-bold enough to really jump in state.
What about you? In this bout of consolidation, are you just watching, or have you already taken action? Is it making you itch, or not?
In the first half of 2018, I saw this scene. EOS fell from 23, then got cut in half, then moved sideways for a while until everyone got too lazy to look at it—then came a single bullish candle—followed by more sideways trading. Sideways until you start to doubt your life, sideways until nobody in the group brings it up anymore.
PUMP is in exactly this state now.
At the price of $ 0.0027, it’s down 3% in 24 hours, and up less than 2% over 7 days. You can’t really call it “up,” but it also hasn’t truly “fallen.” The key support is 0.002648, resistance is 0.00286—stuck in this range.
How am I looking at this week? Honestly, I’m a bit drowsy from watching the charts.
The volume is still there, which means it hasn’t fully gone cold. But there’s no direction—capital inside the market is waiting for a signal.
What was my action this week? I took a couple of looks, wanted to move, but didn’t. Keeping my hand, holding back. This kind of “watching from an empty position” actually makes me feel like an old hand.
There’s something worth mentioning. The data leak from SafePal exposed order information for nearly 40,000 users. The private keys are fine—but what does this mean by itself? It means the industry’s foundational infrastructure is still out in the open. Every time something like this happens, the average retail trader’s first reaction isn’t “what does this have to do with me,” but “the coin will be dropping.” Emotions run with the news.
Now the FNG index is 34—Fear, but not extreme. In this kind of sentiment, the market is the most annoying—not the crash that scares you out of the trade, but the slow grind: you wait it out until you’re numb, until you think, “that’s just how it is,” and then the direction finally comes.
As for valuation—down 69% from the highs, it’s definitely low enough. Undervalued is true, but low valuation doesn’t mean you’ve found the bottom; it only means there’s a story you can tell. Whether that story can actually play out depends on whether there’s something catalyzing it next week.
What should I watch next week? Whether volume can expand, and also the external news landscape. Honestly, in this kind of market, the thing you fear most isn’t losing money—it’s missing the move. You might have been right about the direction, but your position didn’t follow. If next week really gives a direction, I need to make sure I’m at the table, not outside watching the excitement.
Has my view changed this week? It can be said that it has, or it can be said that it hasn’t. What’s changed is: the market is even more grinding than I expected. What hasn’t changed is: I’m still in that itchy-but-not-bold enough to really jump in state.
What about you? In this bout of consolidation, are you just watching, or have you already taken action? Is it making you itch, or not?