🚨 WARNING with AI16Z/USDT! 🚨
The pair is showing a significant drop, a -11.46% in the last 24h! Right now it stands at $0.2086 and it seems that selling pressure is strong.
📉 Quick analysis: The taker sell volume is surpassing the buy volume, suggesting that bears are in control for now. The price has broken the support of $0.2170 and might be looking for the zone of $0.2070, which would be an important low to watch.
⚡ Possible scenarios:
If it breaks $0.2070 strongly: We could see an even greater collapse! The liquidity below that level could be hunted, pushing the price to even lower zones.
If it finds support at $0.2070 and we see buying volume: It could be a good retest point for a bounce, but we would need confirmation from a strong bullish candle. Watch out for fakeouts here, manipulation is common at these levels.
⚠️ Warning: The long/short average indicates that most traders are short, which can sometimes be a signal that the market is about to do the opposite to liquidate those positions. HODL wisely and don’t let yourself be carried away by FOMO or FUD!
I would consider this a speculative short trade if $0.2070 is broken down with volume, or a potential long opportunity if $0.2070 holds and we see a clear change in volume structure.
Risk management always comes first!