From a technical perspective, there are several noteworthy signals in this coin's recent trend. After touching the resistance level last night and experiencing a slight pullback, it rebounded this morning back to the key resistance level but has yet to break through effectively—this behavior indeed reveals some clues. Chart-wise, the 1-hour chart is about to form a clear double top pattern, which typically indicates short-term corrective pressure.
From a fundamental standpoint, a market cap of 5.4 billion compared to the current application development progress of this project indeed seems somewhat mismatched. The lack of practical application value, combined with weak technical performance, suggests that a period of downward correction is likely to follow.
In terms of operation, retail investors should be especially cautious now. Avoid blindly chasing long positions, especially not falling into traps of false signals. If bearish, consider entering short positions around the 0.148 price range, with a stop-loss set above 0.185 to guard against potential false breakouts to the upside. Following this logic, waiting for a downward correction to unfold, there is profit potential.
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FromMinerToFarmer
· 6h ago
It's another double top, and it can't break the resistance level. I'm tired of this routine haha
I should have been bearish on this thing from the start. It has no application value and still wants to boast a market cap of 5.4 billion?
Shorting at 0.148, only when it really drops will it be fun
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ProtocolRebel
· 15h ago
Whether the double top breaks or not, this is ridiculous. It was about time to liquidate.
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ruggedSoBadLMAO
· 15h ago
It's another double top and a trap to lure more buyers, I'm getting tired of hearing this. Why not just drop already?
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With a market cap of 5.4 billion, this progress is indeed outrageous. This time, it might really end up as a dead cat bounce.
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I'm also bullish on shorting at 0.148, but retail investors should not foolishly chase the high.
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If it can't break through the resistance level, it means the main force doesn't want to push it up. Just wait for it to crash.
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It has no application value, yet people are still hyping up the technical patterns. It cracks me up.
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Once this double top appears, it's basically a signal of a decline. I've already reduced my position.
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Stop loss at 0.185? That's a bit tight. Could this move trigger a rebound?
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Trap of false breakout is really everywhere. Tigers don't eat the same grass twice, after all.
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BlockchainArchaeologist
· 15h ago
Double top is back again. I'm tired of this routine. Every time they say there's a bearish outcome, it still goes up. Don't fool me anymore.
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BetterLuckyThanSmart
· 15h ago
If double tops are going to crash, just do it. I've already pulled out long ago. Why keep such fundamentally weak stuff?
From a technical perspective, there are several noteworthy signals in this coin's recent trend. After touching the resistance level last night and experiencing a slight pullback, it rebounded this morning back to the key resistance level but has yet to break through effectively—this behavior indeed reveals some clues. Chart-wise, the 1-hour chart is about to form a clear double top pattern, which typically indicates short-term corrective pressure.
From a fundamental standpoint, a market cap of 5.4 billion compared to the current application development progress of this project indeed seems somewhat mismatched. The lack of practical application value, combined with weak technical performance, suggests that a period of downward correction is likely to follow.
In terms of operation, retail investors should be especially cautious now. Avoid blindly chasing long positions, especially not falling into traps of false signals. If bearish, consider entering short positions around the 0.148 price range, with a stop-loss set above 0.185 to guard against potential false breakouts to the upside. Following this logic, waiting for a downward correction to unfold, there is profit potential.