1. $NEWT Just launched, quite a buzz!
Dual exchange launch: NEWT got listed on Binance Alpha last night (24th) at 10 PM (UTC), and this morning (25th) at 11 AM (our time) it was listed on Huobi (HTX). Binance also hosted a trading competition with 2 million NEWT to attract some short-term players.
Airdrop crash, prices on a rollercoaster: Yesterday, Binance airdropped 12.5 million NEWT (1.25% of the total supply) to large holders (HODLers), and many sold off as soon as it unlocked. The price dropped from the opening at 0.35 to a low of 0.22, later fluctuating around 0.23-0.25. Riding on the news of being listed on Huobi yesterday, it surged 102 points from 0.3 to 0.64, now (data at 3 PM) about 0.46, also down 25 points today.
The background is quite solid: The project secured $90 million from Paypal Ventures and Polygon, focused on AI-driven, automatically executed on-chain operations, touted as an innovation in Web3 infrastructure.
2. Let's talk through the chart.
Yesterday (24th) was quite thrilling: 0.29 👉 first surged 66 points to 0.48 👉 hearing Upbit will also list + Binance competition, instantly surged another 60 points to 0.64.
Today (25th) after being listed on Huobi: the price has slowly dropped 30 points to 0.45, and trading volume is down significantly from yesterday (about 40% less), looks like everyone needs to wait and see.
Key positions to remember:
Support (where it doesn’t fall): 0.40 (where many bought yesterday), $0.29 (the lowest point of greed-induced surge yesterday).
Resistance (where it doesn’t rise): 0.60 (where airdrop sell orders concentrated), $0.40 (the high point of the sudden surge yesterday).
Indicator:
The MACD hasn't fully stabilized yet, and the bullish momentum is still building.
Buy orders are mainly holding at around 0.40 and 0.30, while sell orders start to increase above 0.59.
3. How to operate? What to pay attention to? (Key point!)
For those looking to bottom-fish:
If the price drops back to around 0.30 (where a lot of buying occurred yesterday), you can try a small position.
If the price can break through 0.40 with volume, you can chase in, targeting 0.3 (yesterday's low). If it goes above 0.48, stop loss and exit.
Remember: If you're bottom-fishing at 0.30, it's best to take a look if it drops below 0.28 (cut loss point).
Conservative:
Don't rush! First, watch where the price breaks in the 0.4-0.48 range, and wait for a clear direction (like stabilizing above 0.48) before entering for more safety.
Take profit:
First target 0.55 (resistance level); if reached, you can take some profit.
Second target 0.64 (yesterday's high).
If it can break above 0.56, look for higher levels of 0.6-0.65.
Stop loss:
If it drops below 0.40 (yesterday's support level), don't hesitate, run quickly! Otherwise, it might head to 0.30 for support.
To summarize:
NEWT has a strong project background (with major institutions investing), and it sounds impressive (Web3 automation/AI). The short-term price has been hammered by airdrops, currently oscillating between 0.44-0.48. Whether it can rise depends on whether it can stabilize at 0.465 and break through 0.55. Listing on Huobi is a short-term positive, but we still need to see if the market buys into it.
Operational advice:
Play with a small position! Don't go all in casually; it's recommended to keep total funds below 15%.
Keep an eye on the support at 0.40 and resistance at 0.55. If the support breaks, you should run; if the resistance breaks, there might be an opportunity.
Don't use high leverage! With such volatility, it's easy to get liquidated.
Pay attention to Bitcoin's trend and the airdrop selling pressure at the end of the month.
