5\3 $PEOPLE
The recent price increase is entirely driven by follow-up effects. Once the big players get on board, everyone follows suit. The strong selling pressure on the daily chart indicates that a significant portion of people have completed chip exchanges, essentially taking profits.
Low-level chips are sold to those chasing the price at higher levels. On the daily chart, support is seen at the 0.24-0.22 range. In the short term, as long as this level is not broken, there is still room for upward movement. However, if it breaks, it is advisable to prepare for stop-loss measures.
When trading contracts, especially with popular coins like this, stop-losses are a must. You never know if the big players will make other moves. Many people blindly chase the trend, and if there is a massive drop, panic selling by the majority could lead to further declines.
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