$ANDY I
@andycoinonerc
I know a lot of you have been concerned on the recent
$ANDY dip, so I wanted to do a quick update on it.
Three new listings have commenced on
$ANDY in a very short period of time. Especially interesting was the GATE .io listing in which normally tends to cause a sell off before a possible continuation.
On- and off-chain is lagging a bit against each other due to different trading volumes so the charts differ slightly. This might give you a bit different readings - so I wanted to share my 2 cents.
Imo current PA looks very good across all charts.
(also andy-pairs is looking real good)
$ANDY/WETH on UNISWAP
Price filled the entire inefficiency from prior displacement move that took us above 100M mcap. It went deeper that I thought it would and tagged the .5 of the 1D OB of the previous trading range.
Numerous 20K - 100K market sells at the range low caused price to dip very hard, but was eaten up in less than 30 minutes by buyers eager to get in.
These market sells is classic capitulation where normies capitulate big positions in fear of price dumping. But do remember, price always comes back. Either to reclaim or to test the previous bullish or bearish origin.
Sellers who capitulated big orders here probably lost a lot of money to slippage.
I would guess that the same sellers who dumped will re-enter their positions at the reclaim of the range in fear of missing out further price action to the upside.
Watching current PA, it has now reclaimed the range and is consolidating at the range low. Currently we need to see price develop here. We could be distributing or we could be accumulating. Right now I am unsure, but seeing the buying pressure that came in during the dip I am pretty positive demand is there to start pushing price to the upside.