$42 has seen a nearly 40% drop in a single day, with price action showing typical signs of liquidity exhaustion and a long squeeze. High trading volume accompanies a free-fall in prices, and market logic suggests that we need to assess whether it's a liquidation or a major player selling off, as there is currently no effective support structure on the chart.
🎯 Direction: No position
The chart shows pure bearish dominance, and any rebounds lack buying support. Until a clear bottom structure appears (such as a volume spike and a halt to the decline, or a demand zone on the hourly chart), attempting to catch the falling knife is risky. Wait for the market to complete its panic selling and show signs of stabilizing in price action.
Trade here 👇$42
42USDT
Perp
0.02236
-38.72%
---
Follow me: Get more real-time analysis and insights on the crypto market!
#zora Although I really want to get into this coin, I remember that during the alpha phase it hovered around 0.008 for a long time... better skip the contract #zora #美联储维持利率不变