Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Recently analyzed some market data and found that this token is in a quite delicate position on the 15-minute timeframe. The integrity of the upward trend has already shown cracks, and the support levels are under test.
Interestingly, regarding liquidity—currently, the order book depth is shallow, which usually indicates that large funds are still on the sidelines and there are no signs of significant entry. In other words, it’s unlikely to see a sharp surge in the short term.
From the perspective of position structure, the pressure on the bulls is indeed increasing. Once the support breaks, liquidations could trigger a chain reaction. However, caution is advised during such times, as markets often reverse under extreme emotions.
The key is to keep an eye on that support level and see if it can hold. If it really collapses, the subsequent downside could be quite substantial. But this depends on volume confirmation; a price decline alone isn’t enough to confirm the situation.