1. Overview of the trend
• Current price: $0.7202.
• 24h drop: -88.50%
• Highest price in 24h: $6.35.
• Lowest price in 24h: $0.37.
=> This is a very strong dump, with a 'waterfall' pattern and a sudden spike in liquidity, indicating a potential panic sell or large liquidation event.
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2. Trading volume (Volume)
• Volume peaked after the price hit the bottom ($0.37), then gradually decreased.
• => This indicates there is buying pressure, but no signs of a strong return of capital yet.
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3. MA line (Moving Average)
• MA(5) = 4.414
• MA(10) = 4.904.
=> Both MA lines are much higher than the current price, reflecting a significant deviation with no signs of crossing to create an upward trend.
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4. Price chart
• There is a 'technical rebound' signal after hitting the bottom of 0.37, currently moving sideways around $0.70 – $0.72.
• => This is an accumulation or waiting phase; if there is no good news, it can easily drop further.
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5. Other risk indicators
• Within 7 days: down 88.26%
• Within 30 days: down 88.57%
• Within 90 days: down 80.95%
=> This means the downtrend is not only 'short-term', but also a longer-term trend, which is very concerning.
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Conclusion of technical analysis:
• Current trend: sharply declining, with no clear signs of reversal.
• Areas to monitor:
• Strong support: $0.37 (if it breaks, the risk is high).
• Nearest resistance: $1.00 (if recovery is desired, this level must be surpassed)
• Short-term strategy: If you want to enter a bottom-fishing order, you should:
• Scale down your capital, enter in portions.
• Set stop-loss below $0.37.
• Monitor news/AMA from the MANTRA team in the coming days.
Advice if you are considering buying:
1. Only invest with money you can afford to lose completely.
2. Scale down your capital, do not go 'all-in'.
3. Closely monitor official channels of MANTRA for updates.
4. Set a clear stop-loss if the price continues to decline.