$EDGE This drop directly swallowed all the profits I accumulated last week. At a price of 0.3020, the 24-hour decline reached 17.73%, with a high of 0.3753 and a low of 0.2925, an amplitude of nearly 22%.

The Fear and Greed Index has currently dropped to 19, which is in the extreme fear zone. Compared to historical data, $EDGE last fell to this level three months ago, and subsequently rebounded by over 50%.
The funding rate is now negative at -0.018%, indicating shorts are adding positions. However, the exchange's contract long/short ratio shows a divergence with longs dominating.
This round of decline is mainly due to the spread of market panic, but the trading volume is still as high as $22.3 million, indicating that the major players have not withdrawn. It is likely a washout behavior rather than a trend reversal.
Personally, I have placed a buy order at 0.2850 to add positions, with a stop loss set below 0.2650. The first take profit target is 0.3500, the second is 0.4000, and the position size is controlled within 15% of total funds.
Here is a key signal: if today's closing price can return above 0.3150, it means that the closing price of this panic sell-off is a false breakdown, and it will likely recover quickly afterward.
I myself follow the market makers. Generally, such extreme emotional points are good opportunities to pick up chips. Don't be scared away by the price, and don't sell along with others when they panic.
Emotional turning point = best entry.