Recently, I believe many people have been tricked by ME, raising nearly 150 million, with COINBASE as an investor, an issuance of 1.1 billion, and a circulation of 130 million. Why did it perform so poorly after going online? Before going online, ME opened pre-market trading and settlement contracts in advance, allowing these previous participants to acquire chips early. After ME went online, it soared around 30, and then dropped all the way down to about 3.6. This is the current result caused by the selling pressure from early participants acquiring chips. Investigations indicate that a large amount of selling was driven by retail investors, while the outflow from major players is negligible, only a few dozen to a few hundred, which can be disregarded as just a trigger.
Unveiling: What are the Reasons Behind the Severe Selling Pressure After ETH Breaks $4100?
Ethereum (ETH), as a leading cryptocurrency, has been widely watched since its inception. On December 16, 2024, ETH prices broke through the $4100 mark, setting a new historical high, but the severe selling pressure that followed intensified market volatility. This phenomenon has sparked widespread discussion and analysis, and this article will explore the serious selling pressure reasons and impacts after ETH broke $4100 from multiple perspectives.
1. Background of ETH Breaking $4100
Before analyzing selling pressure, we need to understand why ETH was able to break through $4100. On December 16, 2024, ETH prices continued to rise and broke through the $4100 mark, with Ethereum's market capitalization reaching $474,009,454,916 according to Coingecko data. This breakthrough was mainly due to several factors:
ETH shifts from bullish to bearish, a deep correction may occur!!!
Auntie, I have taken out 3 waves of callbacks, how should the multi-army respond? Price trend analysis
K-line pattern: Recently, the price has shown multiple upper shadows around 4000, indicating strong selling pressure.
The recent K-lines are mainly bearish, indicating a bearish market sentiment.
Technical indicators:
MACD: In the 4-hour period, both DIF and DEA are moving downwards, and the MACD histogram is in the negative area, indicating downward pressure in the short term. The daily level also shows a death cross signal, further confirming the weak trend.
RSI: The 4-hour RSI is close to 40, not in the oversold area, but shows some weakness. The daily RSI is slightly above 50, still has room for correction.
The big rise of BTC didn't move me, the rise of BABYDOGE is too ridiculous, it took off before I even entered the market, frustrating, missed several small targets #doge⚡ #加密市场狂欢
The multi-period bearish resonance of ME indicates that this wave of decline is not so easy to end. The latest 24-hour data is out: long positions account for 43.12%, short positions account for 56.88%. The bearish strength is overwhelmingly dominant. #加密市场狂欢 #me
12.17 BTC Analysis Yesterday, BTC continued its upward trend, breaking the historical high again, reaching 107793, and heading towards the target position of 110000. How long do you think it will take to reach 110000? One day, one week, one month? Candlestick Pattern: Recently, the candlestick pattern has shown a clear upward trend, especially with a significant increase between December 15 and 16. On December 16, a long bullish candle was formed, indicating strong buying power. Technical Indicators: MACD: The 4-hour MACD has remained above the zero line, with both DIF and DEA diverging upwards, indicating that the current market is in a bullish trend. The daily MACD is also above the zero line but shows slight signs of divergence, which requires attention to subsequent changes. RSI: The 4-hour RSI is close to the overbought area near 70, which may lead to short-term pullback pressure. However, it remains at a relatively high level, indicating market strength. EMA: The price is currently above EMA7, EMA30, and EMA120, especially with EMA7 providing good support for the price, indicating that the short-term trend remains positive. Trading Volume: On December 16, the trading volume significantly increased alongside the price rise, indicating positive capital inflow, pushing prices higher. In recent trading sessions, the trading volume has decreased, and caution is needed regarding potential adjustment risks. #BTC☀ #BTC再创新高
After ME went online, its performance was disappointing, because going online meant selling. ME's potential is far more than that. It stopped falling at the 15-30 minute level, completing the idle long. There will be a wave of rising opportunities next, with good room for growth and huge potential. #meme板块关注热点 #纳斯达克100指数宣布纳入微策略
Is ZKJ the strongest dark horse of this bull market? With investment institutions having specific applications, it is indeed favored by investors? #加密市场反弹 #DeFi全线飙升
Does anyone who was not optimistic about MORPHo regret it now???
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Unveiling the Hundredfold Growth Opportunity of Morpho! Are You Ready?
In the vast blue ocean of digital currencies, a project called Morpho is quietly emerging, standing at the forefront with a unique posture, and is expected to achieve a hundredfold growth. This is not just a story about wealth growth but also a vivid example of the combination of blockchain technology innovation and practical application. This article aims to delve into the potential of Morpho and unveil this mystery. 1. Technological Innovation: Reshaping the DeFi Ecosystem Morpho's core advantage lies in its innovative technological architecture, which effectively addresses the high Gas fees and low throughput issues faced by traditional decentralized finance (DeFi) platforms by optimizing smart contracts and improving transaction efficiency. Specifically, Morpho employs advanced Layer-2 solutions, allowing users to enjoy fast transactions while significantly reducing operational costs. This technological breakthrough not only enhances user experience but also lays a solid foundation for broader mainstream adoption.
Unveiling the New Favorite in the Cryptocurrency World HSK: Why Are Investors Pouring In?
Why the cryptocurrency world chooses HSK The cryptocurrency world is a mysterious and ever-changing field, always at the forefront of innovation and transformation. Among numerous digital currencies and blockchain technologies, why has HSK (HashKey Token) stood out in the fiercely competitive cryptocurrency space, becoming the focus of attention for many investors, project parties, and even the entire industry? This is not merely a coincidence, but rather the result of multiple intertwined factors. As the platform token of HashKey Group, the corporate strength behind HSK should not be underestimated. HashKey Group is a well-known company deeply involved in the blockchain field for many years, with its business covering compliance exchanges, investment and asset management, tokenization, infrastructure services, and more, forming a complete industrial ecosystem. Such a background provides solid support for HSK, giving it higher credibility and trustworthiness in the market. When choosing digital currencies, investors often prioritize projects backed by strong corporate endorsements, and HSK undoubtedly meets this criterion.
I think the CPI data tonight is bullish for BTC. Various institutions have been rushing to buy stocks in the past two days, which may start a new round of rising offensive. What do you think? ? ? #BTC☀ #ETH🔥🔥🔥🔥
Have you been driven crazy by OKsol today? Opening at 215, reaching a high of 4100, current price 227, this is a needle piercing the sky, it's not fair to play like this, poor those who chased the high, probably no chance to break even anymore. What's interesting is that OK's developed OKsol has not disclosed the total supply or the circulating supply, all these key data are not released, completely relying on guessing codes??? #加密市场回调 #重大空投观察
Is the BTC bullish trend over??? It's not that simple, the decline is to clear out long contract players. The first wave of decline pierced down to 90500 and eliminated a wave of longs, then there were two more tests, and the pullback around 94000 could not break through. The bulls' defense is quite obvious. In the theory of Chan, there is a saying that a rising trend with a central point can last long. Currently, the 4-hour cycle is obviously building a central point. Continuous three times of washing out have cleared out long contracts, removed the hesitant observers, and washed away the indecisive speculators. Only then will a new round of upward movement begin. Looking forward to the initiation of the upward trend.