Quarkchain
I see a lot of people buying this crypto.
First of all I see it is just $70M market cap, to put things into perspective the famous brazilian football player Neymar Jr. earns $100M per year, so if he wants he can entirely buy it, since this project is worth less than him.
Now, let's go to my bread and butter which is Technical Analysis, if you know how to use it you don't need to draw thousands of lines to notice that on the daily chart there is a downtrend, you just need to remember the definition, a downtrend is a series of lower highs and lower lows, and guess what? It is exactly what you can see on this chart, a series of lower highs and lower lows, the same can also be noticed on the RSI, indicator of momentum, a new lower highs is printing right now.
Now, if we want to go a little bit deeper, we can see that in order to break this downtrend a breakout above 0.012 should had happened, but the resistance zone was holded with RSI coming weaker, this suggests possible further decline in the next days unless demand gains steam.
