$H - Intense sell-off pressure, first bottom-fishing signals emerging
Price & Tech: A deep drop of 43% in a day down to 0.0618 USDT, completely in a downtrend below the MA system. However, the decline range is tightening and the sell volume is no longer expanding, signaling that the selling pressure is gradually depleting.
Highlight: A majority of large leveraged short positions are clustered around 0.068–0.072 USDT, making it easy to trigger a strong technical bounce if there’s any unexpected buying force. Large on-chain capital hasn’t returned yet.
Scenario: The current bounce is purely technical. We need to monitor the ability to hold the support bottom range of 0.046–0.05 USDT.
Price & Tech: A deep drop of 43% in a day down to 0.0618 USDT, completely in a downtrend below the MA system. However, the decline range is tightening and the sell volume is no longer expanding, signaling that the selling pressure is gradually depleting.
Highlight: A majority of large leveraged short positions are clustered around 0.068–0.072 USDT, making it easy to trigger a strong technical bounce if there’s any unexpected buying force. Large on-chain capital hasn’t returned yet.
Scenario: The current bounce is purely technical. We need to monitor the ability to hold the support bottom range of 0.046–0.05 USDT.