Why these altcoins losing their values like $COW $PEOPLE $CETUS ,#SCR #turbo and #RDNTUSDT and so on .....These coins have experienced significant drops over the past 24 hours. Here's a focused analysis and strategic approach for traders:
Observations:
1. COW: Dropped by -19.96%, currently priced at 0.4420.
2. PEOPLE: Experienced a -16.96% dip, now at 0.05557.
3. CETUS: Fell by -11.45%, sitting at 0.3587.
4. SCR: Down -11.37%, priced at 0.639.
5. TURBO: Decreased by -9.55%, now at 0.008295.
6. RDNT: Dropped by -9.24%, priced at 0.0570.
Strategic Recommendations:
1. Monitor Reversal Signals: Keep a close watch for signs of reversal like bullish candlestick patterns (e.g., hammer, morning star) or increased buying volume.
2. Identify Key Support Levels:
COW: Check support around 0.42. If it holds, a rebound may be expected; if it breaks, prepare for further decline.
PEOPLE: Watch 0.053 as a crucial support zone.
3. Short-Term Scalping Opportunities: If the prices continue to dip but show a brief stabilization at support zones, consider short-term scalping for small gains.
4. Avoid Catching Falling Knives: Don't rush into buying purely based on the current dip. Confirm stabilization or positive momentum before considering long positions.
5. Risk Management: Set tight stop-loss levels when entering trades to protect capital, especially given the high volatility.
6. News & Market Sentiment: Stay updated with recent news or events affecting these tokens, as external factors often drive sharp price movements.
Pure Prediction:
Given the current steep declines:
Potential for Short Positions: If support breaks for coins like COW or PEOPLE, short positions could be profitable as they may continue to slide.
Wait for Confirmation for Longs: Enter long positions only if clear bottoming patterns emerge and are confirmed with volume.
Conclusion: Traders should proceed with caution, waiting for confirmations and using stop-loss strategies to manage risk.
