Family, watch out for $SSV /USDT! 🚨 It's on fire with a +24.30% and a last price of $11.033. The bullish rally is undeniable, but we must be cautious!
The moving averages (MA7 at $10.797 and MA25 at $10.461) are in a clear upward trend, which is a strong signal for the bulls. However, the MACD is a bit elevated, and although the taker buying volume has been strong, there seems to be a possible order distribution in the book. This smells like manipulation! 🧐
It seems they are accumulating buy orders at the bottom, driving up the price, only to unload at the peaks and sweep the stops. We need to be super attentive to the Long/Short ratio. We see that the average Long/Short is plummeting, which could indicate that they are liquidating long positions or that traders are taking profits and going short. Don’t get carried away by the euphoria!
If it manages to consolidate above $11.00, we could be looking for $11.181 (maximum in 24h). But, be very careful with a pullback! If it doesn't hold, the zones of $10.797 (MA7) and $10.461 (MA25) will be the key support levels. If those levels don't hold, we could see a deeper correction.
Patience and risk management are vital. Don’t jump in blindly!