The $SOLV dump is a trap, not a trend. ⚡
Down 8.55% today and 9.8% in the last 4h. Ugly.
But volume is only $1.77M, sitting at 0.0x its 20d average. That’s not serious distribution. RSI is 43, while price still holds above the 20d and 50d MAs. Even $BTC weakness doesn’t fully explain this.
Funding is positive at 0.005%, so longs are paying to be early. I’d watch $0.0048 closely. Hold it, and I’d consider an entry; lose it, and I wait for a cleaner retest. 👀
Would you enter here or wait for a retest?
#SOLV #Crypto
Down 8.55% today and 9.8% in the last 4h. Ugly.
But volume is only $1.77M, sitting at 0.0x its 20d average. That’s not serious distribution. RSI is 43, while price still holds above the 20d and 50d MAs. Even $BTC weakness doesn’t fully explain this.
Funding is positive at 0.005%, so longs are paying to be early. I’d watch $0.0048 closely. Hold it, and I’d consider an entry; lose it, and I wait for a cleaner retest. 👀
Would you enter here or wait for a retest?
#SOLV #Crypto