RLS this wave of market is a typical pump-and-dump, and the short-term longs no longer have momentum.

Last night it suddenly surged and spiked to 0.010287, then immediately dumped down. Now it’s down to 0.006866. Although it’s still up over 24 hours, it’s clearly not able to keep rising and has started adjusting.
Right now it’s already fallen below the short-term moving average. It’s just propping itself up on the support at 0.006476 below. The indicators have flipped bearish. At high levels, someone is quietly distributing/selling, and positions haven’t yet been reduced. Once it keeps dropping, it’s easy to trigger a chain of liquidations.
From the high point, it has already dropped by more than 30%. If it can’t hold the support level, it will likely fall further to 0.005.
When trading, don’t blindly chase the highs. For a more prudent approach, first observe and wait. If you want to do a short-term trade, a rebound back to the 0.0075 resistance level can be shorted—set your stop loss, don’t take on too large a position, and be sure to use a stop loss to prevent getting wicked/“pin” liquidated.

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