GM Fam! One of you in one of my recent posts about the coin AEVO asked me: "I bought at 3.20 what do you think should I hold or sell?" However, HERE I explained what would happen when AEVO reaches the range of its first ATH (launch level), and that's exactly what's happening now.
In the hours that it surpassed its previous high, it had a lot of selling pressure, and that's because this project still needs to be refined. To understand this, you must read my featured post on my profile, where I talk about coins that have gone through Binance Launchpool (as in the case of #AEVO. ). Once it's refined, it will have normal behavior and can enjoy good health to surpass its highs as it gains altitude.
What would I tell my follower who bought $AEVO at 3.2? To give a particular answer, I would need to know why he bought in that zone. I suppose he bought on March 28, when the price of AEVO was rejected from its ATH, falling... but it didn't end its descent, the minimum of the rejection was 3.04... and now it's moving sideways. Being the weekend, it's very difficult to project. I would say it's best to hold and set a stop loss (I also don't know what percentage of my follower's savings capital he has invested).
As the coin is being refined, there may still be selling pressure in this range. Buying at these prices is very risky. You must accept responsibility. Don't buy out of emotion, study, make a personal strategy about this purchase. Respect what you project, if it doesn't come true, you should sell and accept the losses!
Hope to hear from you more in the coming days, stay close!