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$TOWNS โ Will we see a breakout like $DYM again?
While most retail traders have bailed out after months of boring sideways action,
$TOWNS is showcasing a rather intriguing structure.
๐ฆ Price has been ranging for over 82 days within a large accumulation box.
Key points to note:
Price consistently holds the bottom of the range.
Each time there's a dip, it's quickly absorbed.
No more strong breakdowns like before.
=> This indicates that selling pressure is gradually fading.
๐ Derivatives data from Coinglass is also showing notable signals:
โข CVD is still down, but price isn't dropping significantly anymore.
โ Selling pressure is being fully absorbed.
โข Open Interest is starting to rise again.
โ Money flow is returning to the market.
Especially on the H4 timeframe, large volume clusters are continuously appearing right in the accumulation zone.
This is often a sign:
๐ MM (market makers) are accumulating positions ahead of a major move.
Interestingly, the current pattern of towns resembles the accumulation phase before the breakout of $DYM:
Prolonged sideways action.
Retail gets impatient and sells at the bottom.
Continuous volume absorption.
Price holds the bottom even as CVD keeps dropping.
If the market continues to be favorable, the likelihood is high:
๐ towns is gearing up for a strong expansion after months of compressed volatility.
๐ฏ Key areas to watch:
A breakout from the current box will be the first confirmation signal.
When liquidity above gets swept, price can rise very quickly due to the lack of residual selling pressure.
โ ๏ธ This is still a high-risk play:
Capital management should always be a priority.
Only enter trades when there is clear breakout confirmation.
Not investment advice.
#TOWNS #DYM #Altcoins #Trading