Here's a hot piece of knowledge: I was also tricked by this seemingly strong support from a whale before. This is a typical ghost order, which most altcoins actually have. Market makers will place very large buy and sell orders around the current price, and the buy orders below will be greater than the sell orders above, creating a sense of strong support. Retail investors see this and feel secure enough to jump in, but in reality, this is automatically adjusted by bots. The buy orders will always dynamically follow the current price, fluctuating up and down. For example, if the current price rises or falls by 1 dollar, the support below will also rise or fall by 1 dollar. This ghost order may be a smokescreen deliberately created by market makers to attract buying pressure, and on the other hand, it is also used to squeeze large spot trades to prevent sharp fluctuations.
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