Today, this BAS is really 'boiling over' — look at this 4-hour K-line, jumping directly from 0.0038 to 0.01088, now retracing to 0.008228, this wave of 'growing without rain' is typical of sudden capital influx to grab shares. Let me tell you the latest news: BaseSwap (the decentralized exchange behind BAS) just officially announced yesterday that the liquidity input for the V3 version has doubled, and the recent daily trading volume has exceeded 25 million dollars, meaning the platform's popularity is 'blood transfusing' the token, which is the core logic of today’s rise.
Looking at the market again: this wave of sharp rise directly pushed the RSI to 62 (almost touching the overbought zone), but the MACD's DIF and DEA just formed a golden cross, and the KDJ's J value hasn't peaked yet — indicating that the short-term upward trend hasn't 'run out of steam', but after that spike to 0.01088, it retraced, clearly indicating someone took advantage of the high to dump for profit, and the current 0.008228 belongs to 'stabilization after emotional cooling.'
My personal judgment: today's trend is "rising high and then pulling back, but the bulls are not scared." The support level is at 0.0078; as long as this price can hold, it will likely fluctuate between 0.008 and 0.009 in the afternoon; if it breaks below 0.0078, it means that short-term profit-taking has hit hard, and it may pull back to 0.0065, but this kind of pullback after a sharp rise is considered a "normal washout" — after all, the trading volume of the platform itself is increasing, and the fundamentals are not bad.
For example: last year when Uniswap launched UNI, it was also driven by a surge in platform trading volume that boosted the token; there were ups and downs in between, but it ultimately followed a major trend. Today's logic for BAS is quite similar, it's a combination of "platform popularity + capital speculation."
To summarize: today BAS is "rising sharply and pulling back quickly, but the foundation is not collapsing," don't rush to chase the highs; wait to see around 0.0078 for a pullback; if it can stabilize there, there will still be chances for further highs; if it cannot stabilize, don't cut your losses either, as the fundamentals of the platform are supporting it, and it won't drop too much.
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