1. Project Introduction
Token name: HIGH
Section: Metaverse, Games
Introduction: Highstreet (HIGH) is a money-making MMORPG game that provides shopping and gaming experiences through its open world Metaverse platform. Users can participate in in-game activities such as quests, social activities, etc. to earn tokens, improve rankings and obtain NFTs
Project financing: US$5 million (AMB, led by Binance Labs)
2. Brief analysis of the market
1. HIGH started the rising mode in mid-April this year and continued to rise during this period, showing the characteristics of long rising time, large amplitude, small correction, etc.!
As prices rise, the contract positions continue to increase and hit a new high this year! From 2.15u in mid-April to 9.8u in early June, a 351% increase in 53 days.
During the rising process, the contract positions continued to increase, proving that institutional players continued to increase their long positions. According to Figure 3, before the price reached the highest price, the main players had already closed their long positions and established short positions in advance, and established short positions at a higher price before the price reached a new high. In recent days, HIGH has fallen by more than 50% in just two days, but with such a large drop, the amount of liquidation does not seem to be much, which once again shows that the main participants of HIGH are institutional players, and these are the forces that can determine the direction!
As shown in Figure 1, HIGH dealers are more common and the traces of manipulation are more obvious. In the process of a wave of rise, the early and middle stages of the rise are often accompanied by small Yin and Yang lines. Even if there is a large adjustment in the middle, it is not enough to change the trend! So how to judge whether HIGH has reached its peak? As shown in Figure 1, the currency will often accelerate its rise when it reaches its peak, with greater strength and space than before, creating an atmosphere of a "main rising wave" bull market, but little do we know that danger is coming quietly! After the high, it fell back, and the K-line pattern formed a bearish pattern of Yin Bao Yang. Then you can see that it has indeed fallen back and fell below the short-term main support level, but this is not the best short position. If you establish a short position here, you will face the risk of forced shorting, because often this kind of more demonic altcoin will rise twice or three times after the fall, and the high point of the second and third rises can exceed the high point of the first time. These methods are often the main means! If you don’t have enough experience to identify these illusions, it will be difficult for you to survive in the market for a long time, because the financial market is full of illusions. If you don’t have a good ability to judge, you will eventually be eliminated by the market!
