$RECALL Just experienced a sharp drop, current price is 0.109 USDT. 😨 Let's quickly break it down:
【Reasons for the Sharp Decline】
1. Panic selling triggered: The first 15-minute K-line closed as a strong bearish candle with a drop of -2.18%, with the body accounting for as high as 85.7%, accompanied by massive trading volume, indicating a concentrated exit of short-term panic sellers.
2. Lack of momentum, weak rebound: Although there were subsequent bullish candles attempting a recovery, the body size kept shrinking and trading volume significantly declined, showing weak buying pressure and a market sentiment shifting toward观望 (waiting and observing).
【Cyclical Data Insights】
📈 The average price change over the past 10 K-lines is negative (-0.07%), indicating a weak consolidation phase. The maximum volatility of 2.55% occurred on the first K-line, after which market volatility narrowed, entering a 'normal fluctuation' consolidation phase with no clear direction.
【Short-term Trading Strategy】
Currently in a key consolidation zone; strategy should focus on range trading with attention on breakout levels:
🔴 Short opportunity: If price fails to hold above 0.11 USDT and breaks below 0.108 (near the low of the first K-line) with increased volume, consider light short positions, targeting 0.106.
🟢 Long opportunity: If price breaks above 0.112 (a recent resistance level repeatedly tested) with strong volume, a rebound may be triggered, targeting 0.115.
Regardless of long or short, always set stop-losses! Position management is crucial.🧐