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The AI concept coins launched by some top exchanges do sound impressive, but just looking at the charts reveals—this is a classic sentiment coin. It skyrockets rapidly during rallies, and when it drops, it falls like a waterfall. Essentially, it's a fight for funds, so don't expect it to be a long-term belief.
I chose to open a short position at 0.16, with a target of 0.13. The reason is straightforward—market sentiment speaks for itself.
First, look at the sentiment. Around 0.16 is a clear emotional high point. The rise is unreasonably fast, but the trading volume can't keep up, which is a typical pump-and-dump tactic.
Next, the technicals. The hourly chart structure has already started to deteriorate. After consecutive surges without making new highs, the volume begins to stagnate. What does this indicate? The main players are already distributing at high levels, and some are dumping.
Finally, consider the overall environment. The market sentiment is weak. For high-volatility assets like AI tokens, if no new funds come in to buy, the only path is downward. There's no opportunity for a bottoming process.
If you're still debating which coin to buy now or feeling frustrated about missing out or being trapped, instead of overthinking, it's better to learn how to read the charts first.