Total red, family! 🚨 $CATI/USDT is feeling the strong pressure, with a drop of -22.64% and trading at $0.1073. The daily range, between $0.1055 and $0.1456, shows that there has been a lot of volatility and the bearish strength has dominated the day.
It seems that the bulls are losing their pulse and the price has plummeted below the moving averages. Watch out for manipulation! Sometimes, these sharp drops are to shake out the weaker hands and accumulate at lower prices. We must be alert for any signs of reversal, but for now, the trend is clear.
The volume of $14.19M in USDT is considerable, which validates the magnitude of the movement. Right now, the level of $0.1055 seems to be a key support, which if lost, could continue to fall sharply.
Patience is gold at this time. Those thinking of entering could look for confirmation that this support level holds or wait for a clear signal that the market is stabilizing. For those already in, it’s time to HODL wisely and manage risk.
As long as we don’t see a significant change in the market structure, caution is the best strategy. Let’s not let panic get the better of us!
