After a bullish rally that took it to $11.23, it seems that the big players are making their moves. Although it has had an impressive surge of +18% and hit $10.00, the money flow shows a considerable outflow of -178,847.36 ZEN in the last 5 days. This is a textbook pullback, but also a sign that they might be shaking the tree to see who gets scared and sells.
The balance between buyers and sellers is somewhat balanced with 53.40% demand versus 46.60% supply, but the distribution of large orders gives us a hint: more people are selling big than buying! The 74,306.62 ZEN sold in medium and large orders, against 22,779.44 ZEN bought, suggests significant selling pressure from those with more power. This smells like manipulation to drive the price down and buy cheaper later.
The 5-day average of large inflows has been negative, with a drop of -$152,143.00 in the last 24 hours, despite that small green spike at the end. This, along with the 24h money inflow chart, which shows a drop to -71,740 around 1:15 AM on June 1st, reinforces the idea that they are pulling out liquidity. Don't be fooled by the current price!
Key points to consider:
Manipulation in sight: The outflow of large amounts of money and the prevalence of large sell orders, despite a seemingly stable or rising price, is an indicator that the big players are moving the market at will. Be smart!
Watch out for pullbacks: We might see price drops while the big players accumulate at lower prices.
Support level: If it stays above $9.80, it could be a good sign that the bulls are regaining ground. But if it loses that level, we might look for lower supports.
Volume: Keep an eye on buying volume. If we see a significant increase in large buy orders, it could be a sign that the manipulation is coming to an end and is preparing for another rally.
Patience is golden in these times of uncertainty and manipulation! Don't let FOMO or FUD lead you. Analyze carefully before making a move. $DOGE
