- Virtual decreased 13.95% a day, causing market losses.
- Whale wallets now control 93%of the total supply.
In the last 24 hours, virtual protocols have decreased by 13.95 %, recording the steepest loss of major assets.
Market analysis suggests that the possibility of short -term rally was still, but assets could continue to decline.
According to the press time, market emotions showed that large -scale holders faced a much greater threat, increasing their share of supply.
Virtual whale acquisition still remains a threat.
According to Nansen, the top 100 addresses now have 93%of the total supply of Virtual. This concentrated ownership increases the ghost of instability.
If a large holder commands the float, all off -roads can start liquidation algae. If you decide to sell this whale, it can cause major liquidation waves that push the price much lower.
Source: Nansen
Nansen also benefited from Smart Money wallets and gained 14.35%of the last 24 hours.
This wallet is famous for its strategic and profitable betting. When the group starts selling, it can apply more pressure at the price of Virtual.
Spot trader keeps purchasing
Interestingly, despite the decrease in the market and the increase in the risk of liquidation cascades, the Spot Trader continues to buy assets.
In the last 24 hours, SPOT Traders has purchased $ 1.42 million worth of virtual.
Source: COINGLASS
This continues to make a wider accumulation trend. Over last week, traders have acquired a total of $ 180 million worth of assets.
This continuous purchase violates the current market trend and is in contrast to the risks raised by the controlled whales.
The meaning of the market movement of Virtual
Technically, the four -hour chart is almost relieved. It suggests that virtual prices may be at a deeper price.
Altcoin has already strengthened its sales to $ 1.62 and $ 1.46 first, less than two major support levels.
If this pressure continues, the virtual can drop to $ 1.27 and the next possible support is $ 1.064.
Source: TradingView
The analysis of the relative intensity index (RSI), which measures the speed and change of the momentum, also refers to the continuation of the decline.
But the potential turning point can be close. If RSI falls below Adtictold Level 30, assets can experience technical reactions.
The RSI was 35.60 at the Prest Time. All movements below this threshold can indicate reversal and open the door for short -term rally.
Virtual supply is faced with a serious risk of falling due to the concentration of supply and increasing sales pressure.
At the same time, if the technical indicators are switched and the spot buyer continues to accumulate, the asset still maintains the possibility of rebound.