The market is throwing some serious heat at $XNY right now and the numbers tell a story that goes way beyond a simple price move. We are looking at a massive 615% explosion in trading volume which usually signals that the big players have officially entered the room. While the 24hs price action shows a slight dip of 3.5% to the 0.006657 level, that massive influx of liquidity suggests we are seeing a heavy accumulation phase rather than a simple sell-off.
When volume moves that much faster than price, it often acts as a coiled spring. People are fighting for positions at these levels and the 3% upward tick we are seeing in the short term could be the start of a much larger trend reversal. I have seen this setup before where the high activity acts as a precursor to a breakout. If this momentum holds and the volume stays this aggressive, the current resistance won't stand for long. Keep a very close eye on the order flow here because the sheer amount of money moving through #XNY right now suggests that a major move is being televised in real time.
#XNY @XNY $XNY
When volume moves that much faster than price, it often acts as a coiled spring. People are fighting for positions at these levels and the 3% upward tick we are seeing in the short term could be the start of a much larger trend reversal. I have seen this setup before where the high activity acts as a precursor to a breakout. If this momentum holds and the volume stays this aggressive, the current resistance won't stand for long. Keep a very close eye on the order flow here because the sheer amount of money moving through #XNY right now suggests that a major move is being televised in real time.
#XNY @XNY $XNY