The price of GIGGLE is oscillating above the support at 64, having previously failed to test the key level and dropped down, now it is starting to move upwards again.
News front
The data is a bit split: down 3.86% in 24 hours, plummeting 26.95% in 7 days, and halving 52.67% in 30 days! This indicates immense short-term pressure. However, looking at a longer timeframe, it has increased by 73% over 90 days and since the beginning of the year, indicating that this coin has a history of explosive growth, with extremely volatile fluctuations. 51.95 million in long positions were liquidated in 24 hours, while only 26.3 thousand in short positions were liquidated, with most people still bearish.
Technical Analysis
The MACD has turned from a death cross to a golden cross, and the red bars have turned green, indicating that the bearish strength is weakening and the bulls are trying to fight back. However, the hidden dangers are also very evident as the trading volume is still shrinking, and the rise has not received strong support from funds. Additionally, the buying volume being greater than the selling volume is a good phenomenon, but if the key level cannot be breached, be cautious of the bulls' confidence collapsing.
Hongcai's personal opinion
I believe the risk of this rebound for GIGGLE is greater than the opportunity! Small market cap coins + high volatility + insufficient volume could likely mean that the main force is supporting the price at the support level to attract follow-up buying, making it easier for them to sell. Unless there is a significant breakout past the key level and it stabilizes, treat all rises as corrections first; enter and exit quickly without attachment.
What should newcomers do?
Do not chase the rise: such coins often surge quickly, and by the time you see it, it’s usually too late.
Keep positions very light: for such small coins, a maximum of 10% of your capital should be used; if you lose, it won't hurt much.
Set strict stop-losses: set your stop-loss as soon as you enter the market, don't fantasize about being able to hold on.
GIGGLE's technical analysis shows signs of improvement, but insufficient volume is a major drawback. Remember, newcomers: heavy positions in small coins, quick entries should lead to quick exits, and stop-losses must be in place!
Money does not come through hasty doors; making money in the crypto world relies on awareness and patience, not shortcuts and luck! Follow Hongcai and participate in every attack from Hongcai! Hongcai will announce specific entry times and real-time news in the God of Wealth's home every day!#加密市场观察 $GIGGLE
