Hello everyone, I am Qi He. Early in the morning, fans urged me to analyze the GIGGLE market. I happened to see two major pieces of news: one is that Binance has just completed the donation and destruction of GIGGLE transaction fees, but another hourly candlestick chart shows the price has plummeted! Qi He will break it down for you, remember to follow after watching! Qi He chat room: 1169002310
News:
First, let's look at the news. Binance donated half of November's transaction fees to Giggle Academy and destroyed the other half, worth nearly one million dollars! Sounds like good news, right? But Qi He tells you that while destruction can reduce supply in the long term, the market isn't buying it in the short term, so why is the price still falling? Because the main players are offloading under the guise of good news! Now the MACD has a dead cross below the zero axis, and the bears are firmly in control, so the news has ironically become 'bad news exhausted' in the short term. Want to know how the main players will play next? Follow Qi He.
Technical aspect:
From the hourly chart, GIGGLE is overall in a downtrend. The MACD white and yellow lines have fallen below the 0 axis and formed a death cross, indicating that short-term momentum is weak and bears are dominant. The resistance levels above are clear: 127 is the intraday resistance, and 160 is the pullback resistance. If the market rebounds, these areas are likely to encounter resistance. What about the support below? 100 is the intraday support, and 70 is the rebound support, clearly marked by the green horizontal line. The volume is currently stable with no significant movement, indicating that the market is watching.
Qihe's personal opinion:
Today, the market is very likely to continue to test the bottom, first testing the 'key level' at 100. If it breaks below, it will head straight for the 'bottom support' at 70! Why? Because market sentiment is panicked, and retail investors are cutting losses. But there might be a rebound around 70, short-term players can bet on a rebound, remember to enter and exit quickly.
Qihe suggests: Play with small money, and look on with big money. It's like fishing; don't cast your line without a bite! Want to know Qihe's real trading records? Follow me, Qihe chatroom: 1169002310 to get exclusive strategies!
Follow Qihe, + chatroom! Let's seize every money-making opportunity together! Qihe chatroom: 1169002310
Follow Qihe, and win effortlessly during the crash! The market is unpredictable, but Qihe monitors it for you every day. That's all for today's analysis; will GIGGLE rise or fall? I think 70 is the critical watershed! If you are afraid of getting trapped, quickly follow Qihe, I will share guaranteed profit techniques in the next issue and bring you into the 'Qihe Village' for exchange!
