$POWR Today it dropped 11.5% straight away. I checked the decliners list and it’s at the very top. I hadn’t really paid much attention to this coin before, but today’s drop is kind of interesting—it looks like a short-term oversold situation.
I’ve thought it through myself: with a sudden plunge like this, if there isn’t any real, substantive bad news, there’s often a technical rebound. And today, a few other coins are still rising, yet $POWR is being pressed down on its own, like getting rubbed into the ground. There’s clearly noticeable fund outflow.
That said, I don’t recommend rushing to bottom-fish right now. First, see whether it can hold steady at the current level. If, over the next few hours, it stops getting pushed down further and trades sideways on declining volume, there may be a short-term opportunity. But if it continues to sell off with increasing volume, don’t touch it—means the selling pressure hasn’t been fully released yet.
In short, this decline in $POWR today is worth keeping an eye on, but in terms of action, it’s still better to wait for confirmation signals. I’ll add it to my watchlist for now and wait until it stabilizes before deciding.
I’ve thought it through myself: with a sudden plunge like this, if there isn’t any real, substantive bad news, there’s often a technical rebound. And today, a few other coins are still rising, yet $POWR is being pressed down on its own, like getting rubbed into the ground. There’s clearly noticeable fund outflow.
That said, I don’t recommend rushing to bottom-fish right now. First, see whether it can hold steady at the current level. If, over the next few hours, it stops getting pushed down further and trades sideways on declining volume, there may be a short-term opportunity. But if it continues to sell off with increasing volume, don’t touch it—means the selling pressure hasn’t been fully released yet.
In short, this decline in $POWR today is worth keeping an eye on, but in terms of action, it’s still better to wait for confirmation signals. I’ll add it to my watchlist for now and wait until it stabilizes before deciding.