🔥🔥🔥$PLAY online and a potential severe drop??? Pressure release after high-level fluctuations
Previously surged to around 0.039 in a short time, profit-taking concentrated release formed a top bearish candlestick, indicating insufficient bullish momentum.
Market sentiment is cautious
Currently, the market is experiencing intensified fluctuations, with rapid rotation of hot spots. Some funds are flowing out of conceptual tokens and shifting towards more stable sectors, with PLAY being significantly affected.
Weak buying support
From the chart, it can be seen that several bullish candlesticks failed to break the previous high. Multiple attempts to surge followed by pullbacks indicate heavy selling pressure above, and there is a lack of effective capital support in the short term.
Operating suggestions:
Mainly observe in the short term:
Currently in a short-term weak consolidation range, support reference at 0.03142. If it breaks, further decline may occur. Aggressive traders may wait for opportunities near this support level for a rebound but must set strict stop-losses.
Do not chase highs in the medium term:
The bullish structure has not yet been rebuilt. Those looking to establish medium-term positions are advised to observe and wait for a significant breakout above 0.03650 before considering following the trend.
Pay attention to on-chain and news aspects:
Whether the PLAY project has subsequent positive developments, fund flows, or product progress will directly affect chip confidence. It is recommended to continuously monitor community dynamics and large holder movements.
Currently in a process of weakening fluctuations, the short-term has not stabilized. It is advisable to maintain a light position and patiently wait for clear stabilization signals before considering entry.
