$RE Triple green candles, a surge of 47%! Reversal or just an escape attempt? What do you all think!!

R E has been rising for 3 straight days, even once reaching 0.4953, and trading volume has jumped to 10 times the average of the past two weeks. People buying near 0.3575 have already made a killing.

But the RWA reinsurance narrative is indeed strong: allocating stablecoins into the real insurance market to earn premiums, with low correlation to the ups and downs of the crypto market. In the past few weeks alone, it has just bought back and burned 679,000 reUSDe. This reversal also isn’t without reasons.

However, historical data is there too—there’s less than a one-third chance of further upside. All technical indicators are calling for a drop; the 0.58-0.63 zone is full of people waiting to get out of their bags, and sell pressure is firmly stacked above.

The wounds from the drop from 1.09 to 0.35 haven’t healed yet. After such a big rise, it’s very likely just a breather after getting dumped too hard. After all, the shadow of falling from 1.09 to 0.35 hasn’t faded—it could just be a rebound after a big sell-off as well. #GOOGL财报亮眼但盘后跌超3%