BlockBeats News, on December 22, top trader Eugene Ng Ah Sio expressed his views on the altcoin market, stating, 'Altcoins (Alts) quickly fell back to these lows again within 48 hours after forming lower shadow lows (wick lows), investors are extremely anxious about holding spot assets and eager to sell and exit. The market may enter a prolonged decline or consolidation phase, or experience a sharp sell-off and hit the bottom in a short period.'
BlockBeats Note: The lower shadow (Wick Lows) is a form in the candlestick chart, referring to the thin line extending downward from the candlestick body, reflecting the difference between the lowest price and the opening or closing price during a certain trading period. The formation of the lower shadow is usually due to a significant price drop during the trading process, but was subsequently lifted by bullish forces, ultimately closing above the lowest price.