esp

The recent price action of $ESP surprised many traders after an aggressive pump of more than 170% within a very short time. The price surged from around $0.0278 to a high near $0.0888, driven mainly by sudden volume expansion, speculative buying, and momentum-based entries. Such sharp vertical moves usually attract short-term traders and FOMO buyers rather than long-term investors. When price moves too fast without building strong support levels, it becomes extremely vulnerable to pullbacks.The dump started once $ESP failed to hold above the local resistance zone around $0.085–$0.089. Early buyers and whales used this high-liquidity area to take profits, which increased selling pressure. At the same time, over-leveraged long positions began getting liquidated, accelerating the downside move. This caused a cascading effect where price started forming consecutive red candles, signaling exhaustion of buying strength. The current pullback toward the $0.075–$0.070 range looks like a normal correction rather than a trend reversal, as this zone can act as short-term support if volume stabilizes.From a market structure perspective, this type of dump is common after parabolic moves. Smart money typically distributes positions during euphoria and re-enters after panic selling cools down. If $ESP manages to hold above previous consolidation levels and volume starts to increase again, a continuation move is still possible. However, failure to hold support could lead to a deeper retracement toward the original breakout zone. Traders should avoid emotional decisions and wait for confirmation, as volatility remains extremely high in such low-float, high-momentum assets.