Breaking News! NXPC Waterfall, Dog House Crashes the Market!
The price plummeted directly from 1.84 to 1.66, a drop of over 14%, piercing through both the MA7 and MA30 moving averages. The trading volume also exploded to an outrageous level, clearly indicating immense selling pressure, with a crowd of people rushing to sell. The FR indicator below also jumped to -0.014%, with funds frantically withdrawing, as if fleeing for their lives.
Let's analyze the reasons behind this sharp decline.
In terms of market sentiment, this cliff-like drop clearly indicates that large funds are crashing the market, or some negative news has spread, scaring retail investors into selling, following the trend.
Technically, NXPC had been hovering near the moving averages, but once it broke below the averages, the support level crumbled like paper, getting pierced through, triggering stop-loss orders and technical sell-offs, leading to this avalanche.
In the short term, NXPC's decline has not stopped; the low point of 1.66 is likely not the bottom. The FR indicator is still at a low level, with bearish forces being too strong, holding the upper hand. If there are no positive news catalysts, a rebound seems unlikely, and it may continue to test the bottom down to 1.65 or even lower. However, if it can stabilize and climb back above 1.7, there may be a slight rebound, but don’t expect it to be significant.
Recently, I plan to ambush a potential coin that is ready to surge, doubling it is very simple, and an expected gain of over 10 times is not a problem. If you want to follow along, please pay attention to my profile for free sharing!
