In the last 24 hours, Chainbase ($C ) has fallen by 0.67%, continuing a weekly decline of 15.4%. Main reasons:
Volatility after listing - pullback after initial rise on Binance
Weak technical indicators - price below key moving averages, RSI close to oversold territory
Decreased interest - reduced activity following July's marketing campaigns$C
Possible reasons for the decline: lack of fresh positive news, technical signals for decline, profit-taking after previous growth, and overall market conditions that are unfavorable for small projects, despite the altcoin season. Additionally, trading volume over 24 hours has dropped by 11.8%, indicating a decrease in interest. It is necessary to check for any negative news, but the provided articles do not contain such events. Most likely, this is a natural correction after the previous hype.
Chainbase is experiencing a typical consolidation phase after listing, exacerbated by a bearish market structure. Despite the strategic importance of its AI and data infrastructure, either new incentives from exchanges (such as upcoming October rewards from Binance) or significant achievements at the protocol level are needed for short-term recovery.
What to pay attention to: can Chainbase hold above the psychological level of $0.20 in anticipation of the unlocking of the next tranche of 10 million tokens in October?.#Chainbase @Chainbase Official