Are you also thinking, $MOODENG dropped 12 points—should you be buying the dip? Hold on. First, take a look at the candlestick chart. Yesterday’s long upper-wick bearish candle: the high at 0.0456 was immediately pushed back. Today’s low at 0.0393 tested support, but the trading volume is only 380 million—much less than the prior days’ volume spikes. Are the main players done distributing already, or are they just “washing out” and pretending to be dead?
From the price structure, around 0.039 is a dense area where the last round of the rebound started. But the trading amount of 160 million can’t hold it up. A rebound on shrinking volume is often just a continuation during a downtrend. On-chain, I don’t see any large-scale buybacks. The sentiment is pure panic—everyone is cutting losses. There are more and more orders from retail investors sitting above 0.042. Just go short—don’t try to catch a falling knife. Enter a short around 0.04, target 0.038, and stop-loss at 0.0415. The fee-rate and long/short “balance” are a mirage—the truth is in the volume-price structure.
Dare to say it can hold above 0.04 before tonight? Like this post and leave it as a pledge—come back and slap me in the face 😂🔥
#MOODENG
From the price structure, around 0.039 is a dense area where the last round of the rebound started. But the trading amount of 160 million can’t hold it up. A rebound on shrinking volume is often just a continuation during a downtrend. On-chain, I don’t see any large-scale buybacks. The sentiment is pure panic—everyone is cutting losses. There are more and more orders from retail investors sitting above 0.042. Just go short—don’t try to catch a falling knife. Enter a short around 0.04, target 0.038, and stop-loss at 0.0415. The fee-rate and long/short “balance” are a mirage—the truth is in the volume-price structure.
Dare to say it can hold above 0.04 before tonight? Like this post and leave it as a pledge—come back and slap me in the face 😂🔥
#MOODENG