HSK - A fleeting craze or a sleeping opportunity?

HSK/USDT once recorded a dizzying increase to 2.5982 USDT, before plummeting uncontrollably to the current level of 0.3786 USDT – equivalent to a decrease of over 85% on a weekly basis.

1. What happened?

The weekly chart shows that HSK is a token that experienced strong FOMO in the early stages, but lacks sustainable support. Trading volume has gradually declined, and the MA5 crossing below the MA10 indicates a clear weakening trend.

2. Is this the bottom?

Currently, the price is fluctuating around 0.32 - 0.38 USDT, a narrow accumulation zone after a strong sell-off.

• CCI indicator: currently at -82, indicating oversold conditions.

• KDJ: K (10.87), D (9.51), J (13.57) – all three are in the low range, potentially signaling a rebound in the short term.

3. Opportunity or risk?

With 24h volume still maintaining over 200,000 HSK, HSK continues to attract a group of speculative investors or bottom fishers. However, caution is needed as there is no clear fundamental information accompanying it – which is crucial when evaluating a new token.

⸻

Summary:

HSK could be an opportunity if this is truly an accumulation bottom, but it could also just be a typical “pump-dump.” Keep a close watch on the cash flow and fundamental information before making a decision.