A single bearish candle pierces the heart, account value shrinks in an instant. The jungle law of the crypto world is playing out again, this time it's PROM's turn!
A terrifying morning: A waterfall decline, 18% market value evaporated!
This morning, countless PROM holders opened their accounts in an instant and were shocked—PROM's price plummeted like a ladder was pulled away! In just a few hours, it fell over 18%, leaving a shocking 'guillotine' on the K-line chart, causing the crypto community to explode with lamentations. This is not a correction; this is a naked bloody harvest!
The behind-the-scenes manipulator surfaces: Top institution 'Jump Trading' dumped $5 million!
Concrete evidence comes from the news! According to on-chain data tracking, an independent analyst revealed that a wallet address associated with top quantitative trading firm Jump Trading sold over $5 million worth of PROM tokens through Binance just before the crash! The movements of the whale are enough to stir up a storm; Jump Trading's precise dumping was undoubtedly the last straw that broke PROM's price!
Technical 'death triangle': Breaking all supports, revealing the bear market!
Opening the daily chart of PROM, technical players feel a chill down their spine:
The 'Death Triangle' takes shape: Short-term moving averages (such as 5-day, 10-day) have already crossed below long-term moving averages (such as 30-day, 60-day), forming a downward divergent 'bearish arrangement', which is a textbook-level bearish signal!
Key support completely broken: The previously regarded 'iron bottom' at the $6.0 psychological level and the important technical support at $5.8 have been pierced like paper in the face of massive selling pressure, with almost no safe ground to defend below!
MACD death cross deepens: The fast and slow lines of the momentum indicator MACD have crossed again below the zero axis, and the green momentum bars continue to expand, showing that the downward momentum is extremely strong, with no signs of a halt!
Technical conclusion: Downward trend established with breakdown; every rebound could be an opportunity to escape, do not blindly bottom fish!
Bad news comes in a chain: Unlocking flood + project team 'playing dead', adding insult to injury!
The sharp drop is by no means coincidental; negative news has long been brewing beneath the surface:
'Unlock bomb' continues to explode: The PROM project has recently seen a large amount of tokens unlocked into the circulating market. New chips are continuously flooding in, and the market simply cannot accommodate them! With supply surging and demand dwindling, pressure on the coin price is inevitable.
The project team 'vanishes': Positive news 'difficult to deliver': Substantial good news such as major collaborations and product upgrades that the community has been expecting is nowhere to be seen. The project team is weak in communication during a critical period, being angrily accused by investors of 'playing dead', leading to a collapse in market confidence!
Retail investors' bloody lessons: The jungle law of the crypto world is cruel!
This time PROM's crash is a brutal lesson for all retail investors:
Whales are the true manipulators: Top institutions have absolute advantages in information, capital, and speed; their every move can shake the coin price significantly. Retail investors are always at the end of the information chain!
Technical breakdown means you must run: When a key support level is effectively broken, accompanied by massive volume, any sense of luck is suicidal! Stop-loss must be quick, and discipline must be strict!
The unlocking period is a high-risk period: For projects with a large amount of tokens unlocking, one must be highly vigilant! Unlocking is like opening the floodgates, and prices can easily crash.
The project's inaction is a red flag: In a bear market, if the project team does not actively work or maintain community confidence, it is equivalent to slow suicide. Stay away from 'playing dead' projects!
Where to go from here? A guide for retail investors! Faced with the relentless decline of PROM, what should we do?
For those deeply trapped: Calmly assess the project's long-term value. If still optimistic and the position is manageable, consider lying flat and playing dead (provided you can withstand the risk of going to zero); if the fundamentals deteriorate or the position is too heavy, reducing positions during rebounds to cut losses is wise.
Observers: Keep your hands to yourself! In a downtrend, do not catch falling knives! Patiently wait for clear signs of a bottom reversal (such as a long lower shadow with volume, strong breakthrough of key resistance levels) to appear, otherwise, watch more and act less.
Everyone: Raise risk awareness! There is no 'sure profit' in the crypto world, only 'risk control'. Before making investment decisions, be sure to study the project's fundamentals, token economics, unlocking plans, and team dynamics!
Truth in the crypto world: Others fear while I am greedy? The premise is not to catch falling knives during a waterfall decline! Surviving is a prerequisite to talking about bottom fishing!
Before the 18% crash, I advised all group members to escape at the top! The next escape signal has been locked in, to be launched in the group in real-time! Want to dig deep in the crypto world but can't find direction? Want quick entry to master information gaps? Click to follow and join the group! Real-time sharing of first-hand information and in-depth analysis, precise tips on buy/sell points, and immediate grasp of crypto dynamics!