Unveiling the Truth Behind $EDU 's 'Counter-Trend Surge': Is it an Independent Market or a 'Dump Trap'?
The early Binance-led IEO project EDU surged to the top of the gainers list today. However, as everyone saw, there was a sharp pullback on the daily chart, a movement that often indicates an unhealthy rise, more like setting the stage for a significant fluctuation later.
From the perspective of trading volume and price movement, EDU's current market is still relatively weak, with a large increase but insufficient support. The project team chose to force a surge during a poor overall market, and the purpose is quite simple: to attract retail investors to jump in and create an independent market.
In the short term, the key resistance level on the daily chart is around 0.2064, which is likely to become a phase high. Even if it breaks through, it will be difficult to maintain, and it will likely be rapidly sold off afterward. In other words, the risk is still quite high, and this cryptocurrency still needs a deeper consolidation.
Therefore, I personally do not recommend that everyone hold EDU's spot. Although many altcoins are currently falling, instead of chasing this unstable high-priced coin, it is better to diligently position oneself in truly valuable and growth-oriented projects at the bottom; the potential for profit later will be much larger.
