#pixel $PIXEL
Over 74,000 people have joined in, Binance is generating some solid hype, but I'm bearish—still hasn't dropped enough. It's the same story as the new coins that came out before; they launch and then just keep falling, with no end in sight. Right now, we're still on a downward trajectory. Any resistance? Technical analysis is all nonsense. With a supply of five billion, there’s still a lot that hasn’t been released. Don’t overthink it; it’s going to keep dropping. No favors for the project team or the promotion side.
Let’s check the long and short positions.
Whale holdings situation
Whales have significantly shifted to short positions, with current shorts hitting 75 million coins, while long positions are only at 43.6 million coins.
The surge in whale short positions has increased by 165%, indicating a coordinated selling pressure aimed at any intraday rebounds.
There’s a risk of long liquidation below $0.0075, while the significant short positioning suggests that spot prices will struggle to break above the resistance at $0.0085.
Over 74,000 people have joined in, Binance is generating some solid hype, but I'm bearish—still hasn't dropped enough. It's the same story as the new coins that came out before; they launch and then just keep falling, with no end in sight. Right now, we're still on a downward trajectory. Any resistance? Technical analysis is all nonsense. With a supply of five billion, there’s still a lot that hasn’t been released. Don’t overthink it; it’s going to keep dropping. No favors for the project team or the promotion side.
Let’s check the long and short positions.
Whale holdings situation
Whales have significantly shifted to short positions, with current shorts hitting 75 million coins, while long positions are only at 43.6 million coins.
The surge in whale short positions has increased by 165%, indicating a coordinated selling pressure aimed at any intraday rebounds.
There’s a risk of long liquidation below $0.0075, while the significant short positioning suggests that spot prices will struggle to break above the resistance at $0.0085.