Targeted dumps of altcoins continue - now ZKJ.
In recent months, we have written that when the entire market is difficult to pull down, it comes down to targeted manipulations. In such cases, the best candidates for sharp inexplicable drops are assets that have previously grown sharply and inexplicably. Like OM. However, it was not expected that in the case of #ZKJ the dump would be so epic.
There are simply no news reasons. Crypto Twitter is questioning the causes.
Simply put, what grew against the falling market from December to January has reached the levels of December-January with one daily candle down -68% and continues to fall.
A sharp revaluation and a liquidation of those who expected eternal growth. Liquidations amounted to $93 million in one hour. Considering that the total market liquidations in one hour were $99.6 million.
#ZKJ, let us remind you, is the last asset we did not buy for our December altcoin portfolio. We did not want to buy at the highs. Not without reason.
We warned that the price had turned down back on May 14 at a price of $2.0934. We set an alert for a breakout at $1.7273, but the price didn't even linger there. The price is not just going down; it is plummeting, especially looking beautiful on lower time frames.
Let's wait and see what is announced as the reason for the dump; we are not in a hurry to buy. We are not fans of catching falling knives, especially not ones like this. If there are dirty tricks from the team, we will cross it off our buying list. It would be better if it were some kind of hack.
