📉 Is GIGGLE making you anxious? Don't worry, this might be the 'final squat.'

The recent market has been quite turbulent; even the usually 'joyful' Giggle Fund (#giggle ) can't laugh anymore. The downward trend has continued this month, with a decline that has expanded to 71% compared to November last year. Many holders are starting to doubt their lives: Is this coin not going to make it? Should we hurry to escape?

Don't rush; let's talk slowly.

🪨 Dropped to the bottom of the wedge: Danger? Or opportunity?

Currently, the price of GIGGLE has reached near the bottom of the descending wedge structure, which has triggered significant rebounds in previous cycles. Looking at the technicals, the RSI is directly lying in the extremely oversold zone, with momentum completely squeezed out, leaving almost no 'strength' to continue downward.

In simple terms: the drop has been too severe, it’s a bit overdone.

Typically, at this time, as long as buying pressure recovers a little, the market tends to show a decent rebound. Of course, this rebound is more corrective rather than a major trend reversal, but for short-term traders, volatility is an opportunity.

⚠️ Key support pressure has increased significantly: $70 must hold.

Currently, trading volume is rising, but prices continue to weaken, indicating that the bearish dominance is very apparent. GIGGLE has tested the upper line of the descending wedge multiple times in recent days, but has not managed to break through successfully.

The most critical downside area for the market remains around $70. Once it is breached, the next strong support will be at $47.30, which overlaps with the previous liquidity absorption level and is also a historical reaction point of the wedge formation. If this level cannot hold, there will be almost no decent support below GIGGLE, and prices may experience significant volatility.

You can think of it as: below is a cliff, it's best not to fall off.

💥 The 'ceiling' of the rebound: the $160—$172 range is hard to chew through.

Even if a rebound occurs later, it will depend on whether it can break through the resistance zone of $160 to $172. This range has been a reversal point in previous market movements and is a necessary path for GIGGLE to return to a higher price range.

In other words, if this 'ceiling' cannot be broken, the upward trend at most will just be a repair market; don't think about soaring.

Moreover, the daily-level upward support must be solid; once it breaks, it means the entire wedge structure fails, and a new round of downward trend may follow.

🌀 Macroeconomic headwinds blowing towards meme coins: pessimistic sentiment is spreading broadly.

In addition to its own structural weakness, GIGGLE is facing a strong 'headwind'—the macro environment.

Before the Federal Reserve releases its latest resolution, the prices of Bitcoin and Ethereum have both fallen back, and market sentiment has suddenly shifted from optimistic to defensive. The fear and greed index is only 29/100, indicating a clearly cold market.

In such a situation, the first to suffer are often the higher-risk meme coins. Funds will naturally prioritize returning to assets like BTC and ETH, which have larger market capitalizations and relatively stable volatility. Currently, BTC's dominance has risen to 58.6%, indicating that market risk appetite is shrinking.

Additionally, the overall industry liquidity has decreased and funding rates have dropped, causing a lot of capital to withdraw from the meme sector. During GIGGLE's decline, the trading volume has increased, resembling more of a passive liquidation rather than institutions taking the opportunity to accumulate.

A simple sentence: the market is avoiding risks, and no one dares to touch meme coins.

🔍 Summary: Danger and opportunity coexist, worth keeping a close watch in the coming period.

GIGGLE's current round of decline has pushed the price back to the bottom of the oversold wedge, a position that has previously served as a starting point for rebounds. Although the macro environment is cold and meme coins are under pressure overall, the technical formation is indeed approaching a critical point.

The next few trading days are crucial—if it stabilizes near the current support level, a rebound may have a chance to unfold; but if it falls below $70 or even $47, the market may face a deeper round of panic.

For traders focusing on short-term opportunities, this position is worth keeping a close eye on; for more conservative investors, it may be better to reassess direction after the key resistance is broken.

In any case, GIGGLE's 'squat' this time may be the buildup before the next leap, or it could be the last step before falling off a cliff. Next, it depends on how the market decides.