Did everyone just collectively decide they didn't like $KERNEL anymore? Yikes.
Look at this 1-hour chart. This is a brutal downtrend, down over 10% today. The price action is just a series of red candles grinding lower.
We tried to stabilize around the $0.1372 level for a bit, but the sellers just kept pouring in. It's a clear breakdown.
The good news (if you can call it that) is that we are wicking right off the low of $0.1291. That is the absolute key support now. If it holds, maybe we get a slight, weak bounce.
But the volume has been steady on the way down. The path of least resistance is down until we get a high volume green candle or a clear structure shift.
If $0.1291 breaks, we are going into price discovery to the downside. Be extremely careful trying to long this until it shows a pulse.
What's the next line of defense after $0.1291? Anyone see a cluster? 👇