Sun received the EIGEN airdrop and immediately sold it on Binance. It is unreasonable for a big shot to do such a short-selling thing. I don’t care about other things. I only know that once Sun is active in the market, it will be another round of leeks being cut. Otherwise, it would not be called: "Sun cut"
I doubt whether he sold it and bought SUN. The timing just matched. After selling it, SUN rebounded strongly against BTC. Judging from its trend alone, it is a bit unusual. And the coins that Sun cut always rebounded when BTC fell. This happened countless times. I find it hard to understand this method. Either he made a prediction and held the price first. If BTC rebounded, he would continue to push it up. If BTC did not rebound, he could sell it slowly. It is definitely impossible to completely drive a currency to a very large increase by one's own strength. Otherwise, so many coin friends in the coin circle would not buy it. Brother Sun would not be so stupid!
Let's take a look at the price chart of SUN and analyze the logic:
Since SUN was listed on Binance, it has been falling all the way. As of last night, it has fallen by 174%. It has only been 11 days from August 22 to today. I remember that the hype atmosphere was very good at that time. Square A was recommended everywhere. I don’t understand the operation of the primary market, so I never participate in the recommendation of new currencies. I am not capable enough and am just a secondary market trader.
But it was different yesterday. Last night, it quickly broke through the lowest point of 0.01833 on August 22, and then recovered the lost ground in the morning. In addition, there was a volume-price divergence phenomenon, and a very large buying volume appeared. In such a weak situation of BTC, there must be something wrong.
To sum up: I personally recommend using 0.018135 as a trial and error point to follow up. The first target position is at the falling channel line 0.02, and the second target position is: 0.0258.
As long as it falls below, we will leave. After all, it is Sun who got the coins, so we have to be on guard!
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