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MANA experienced a significant volume drop today, with a single-day decline of -16.93%. This downward trend with no resistance, combined with over 64 million in trading volume, clearly indicates that the main force is dumping. Currently, the open interest remains high, suggesting that long positions are heavily accumulated. Such a sharp decline in price could easily trigger a chain reaction, and a wave of liquidations may be imminent.
From the price action perspective, no effective buying support was seen during the rebound, indicating that the bears have strong control. Any attempt at an upward rebound that returns to previous support levels could become a new entry point for short positions.
**Trading Advice**
Direction: Short
Entry Range: 0.1430 - 0.1460
Stop Loss: 0.1520 (must be strictly enforced)
First Target: 0.1350
Second Target: 0.1250
The key factors are the high open interest and the lack of buying support. When these two factors combine, downward momentum will be very strong. In the short term, rebounds are risky; do not chase longs. Waiting for the right opportunity to short in key zones is the best strategy.
MANA is indeed fierce this time, but I always feel that every time such support levels are analyzed, the price can break through completely.
Wait, what about the buy orders? There are none?
The main force's tactics are really ruthless, the liquidation wave comes suddenly.
I just want to know who is still picking up the bags...
0.125, can it really reach that? Feels uncertain.
The bears' control this time is indeed strong; no one is catching the rebound.
It's the same old story, short on rebounds, betting on a liquidation wave—can it be profitable?
With such a high open interest, it should have been liquidated long ago. Why is it still holding on?
At the 0.125 level, can it break... feels uncertain.
After this drop, the liquidation list will probably grow another round.
The main force's tactics are slick; retail investors are about to suffer heavy losses.
Forget it, I'll wait until the bottom to buy in. Participating now is too risky.
High open interest is actually a signal; it might still fall further.
Rebound short? I think I should have just run when the rebound was high.