#Write2Earn After a 2x pump in 5 days with EDEN, the good times might be coming to an end!
This coin shot up from 0.04, and everyone was super hyped!
But if we take a closer look at the charts, danger signals are already flashing!
There’s been a sudden spike in sell orders, and the trading volume is dead heavy, yet we’re seeing long upper wicks. This indicates that the whales are dumping at high prices, and retail traders stepping in are likely to get wrecked.
Right now, the daily chart looks pretty grim; if it breaks below 0.116, the whole uptrend is completely done for.
Above, we have resistance between 0.138 and 0.169, which is a major pain point; and below, 0.087 and 0.063 are big gaps that will eventually need to be filled. On the 4-hour chart, the whales have already completed their high-level pump and are gearing up to harvest stop losses from the dip buyers.
The trading strategy is straightforward: short at the highs.‼️
Let’s wait for it to bounce between 0.155 and 0.160 to scale in. As long as the average price hits 0.1575, set 0.172 as our stop loss.
If the daily closes above 0.16959, we’ll take the loss and exit without hesitation.$EDEN