- The whale faces a loss of 1.39 million dollars while the media threw is struggling at key support levels.
- Technical indicators and thermal liquidation cards suggest a risk of additional drop if the support breaks.
A whale recently deposited USDC $ 600,000 on the hyperliquidal market (media threshing) to strengthen its position THRESHING.
This whale spent 7.01 million massive dollars to acquire more than 362,000 media thresholds, buying them at an average price of $ 19.34.
However, the market has slowed down, the whale is now faced with a loss of $ 1.39 million.
This raises questions about the whale strategy and if the recent purchase will be paid in the long term, or if it signals an additional risk on the market.
Analysis of the price of the media threshing
The price was consolidated near the support level of $ 15.00 at the time of the press, forming a downward corner model. At the time of the press, Hype was negotiated at $ 15.13, marking a drop of 4.12% in the last 24 hours.
Historically, these models can lead to bruise inversions when the price reaches the lower limit. If Hype manages to maintain above $ 15.00, a rebound towards the resistance of $ 16.50 could be in store.
However, if the support breaks down, the next significant level of support is around $ 14.50, opening the door to potential declines.
Source: tradingView
Do graphs confirm a potential reversal?
Looking at the relative resistance index (RSI), the press time value of 39.67 suggests that the media threshing was approaching the conditions of occurrence.
This could be a sign that a reversal is imminent, because the assets occurring often rebounds.
In addition, the RSI has not yet reached the critical brand 30, indicating that the lowering momentum may not be completely exhausted.
The MacD has shown a slight down divergence with the blue line above the orange line, signaling continuous sales pressure.
Source: tradingView
What do liquidations say about the feeling of the market?
The thermal liquidation card for media threshing has revealed that several liquidation clusters are formed around the level of $ 15.00.
This is an important area of interest, because merchants with leverages can cope with liquidation if the price drops further.
Ventilation below this level could trigger a liquidation cascade, which leads to an even lower price.
However, if the price rebounds on this key support, this could indicate that buyers intervene to protect the $ 15.00 mark, creating a potential floor for the price.
Source: Coringlass
What do merchants feel about assets?
The weighted feeling for the beaten media was -0.91 at the time of the press, reflecting a mainly bearish perspective among market players.
Recent market developments, including drop in prices, have made feeling in a negative territory, which could be a reflection of an increasing concern.
This negative feeling aligns with continuous drop pressure on the market, because traders seem cautious about the potential decline.
Source: Santiment
Conclusively, taking into account the current market conditions, the beaten media is at a critical moment. Despite the big purchase of the whale, the price is struggling to maintain above the level of support of $ 15.00 and the feeling remains lower.
Technical indicators suggest that the market can be in a consolidation phase, but the risks of additional drop remain if the support breaks.
Consequently, unless the price rebounds quickly, another risk of decline seems likely in the short term.
