Veterans look at ADX; the first thing isn’t the price increase but whether there are still buyers after the pump.
ADX has surged +23.70% in the past 24 hours, pushing sentiment to a high. Right now, it’s not about how much it has risen, but whether the chasing funds can still catch the wave. Current price is around 0.0689, with a 24h trading volume of about 7.6685 million; only a strong breakout looks like funds chasing the trend.
Reference indicators: 30m RSI is currently at 29.03, already in the oversold zone. Here, we can’t simply equate oversold with a reversal; it’s more crucial to see if the RSI can turn upwards and if the price can reclaim the short moving average; the 30m super trend is at 0.065910, and the current price is above it, indicating a trend continuation structure.
The order book needs to answer two questions: Has the chasing sentiment started to cool off? And has the trend protection level been breached again? If both hold, this wave is worth further discussion; if only one holds, treat it according to sentiment fluctuations.
In this type of pump, what really matters isn’t the price increase screenshot, but whether there’s still support after the pullback.
#ADX #Alert
ADX has surged +23.70% in the past 24 hours, pushing sentiment to a high. Right now, it’s not about how much it has risen, but whether the chasing funds can still catch the wave. Current price is around 0.0689, with a 24h trading volume of about 7.6685 million; only a strong breakout looks like funds chasing the trend.
Reference indicators: 30m RSI is currently at 29.03, already in the oversold zone. Here, we can’t simply equate oversold with a reversal; it’s more crucial to see if the RSI can turn upwards and if the price can reclaim the short moving average; the 30m super trend is at 0.065910, and the current price is above it, indicating a trend continuation structure.
The order book needs to answer two questions: Has the chasing sentiment started to cool off? And has the trend protection level been breached again? If both hold, this wave is worth further discussion; if only one holds, treat it according to sentiment fluctuations.
In this type of pump, what really matters isn’t the price increase screenshot, but whether there’s still support after the pullback.
#ADX #Alert