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Wintermute on AI Crypto Coins: How GOAT Could Perform After 93% Fall
The post Wintermute on AI Crypto Coins: How GOAT Could Perform After 93% Fall appeared on BitcoinEthereumNews.com. Recently, cryptocurrencies have seen extreme market manipulation. It usually involves strategic trading to sway the price in a desired direction. These manipulations can be seen in the creation of red (selling) and green (buying) candles at significant volumes. Ai crypto coins have been at the centre of such manipulations. Wintermute alongside exchanges like Binance and Kraken, allegedly got involved in buying and selling GOAT tokens. They artificially inflated and deflated the prices through these large orders. The potential scenarios for GOAT following such manipulative actions were twofold. It could be a pump followed by dump and vice versa. When Wintermute purchased large amounts of GOAT, possibly in coordination with exchanges, prices surged. As retail investors followed the upward momentum, perceiving it as a buying signal. GOAT activity | Source: The Coin Republic Conversely, when Wintermute started selling off GOAT, the price plummeted. As other traders react to the sell-off, fearing a significant downturn. If the market perceives the pump as manipulation, confidence could wane, leading to a sell-off even amidst buying. Similarly, a perceived over-sell could attract buyers looking for a bargain. Potentially stabilizing or increasing the price after an initial drop. AI Crypto Coin GOAT Price Action Following the steep 93% decline in GOAT’s price since its November peak at 1.4, analysis pointed to increased market pressure, potentially influenced by the market maker alongside major exchanges. Currently, with GOAT’s price hovering around 0.084, the RSI at 34 suggests that the asset is entering oversold territory, although the MACD’s continued bearish trend indicates that downward momentum is still strong. This implied ongoing manipulation tactics such as wash trading or sell walls that suppress price recovery. Should volume increase and GOAT’s price manages to break above the critical resistance at 0.09, this could signal a potential reversal. This would require substantial…
The post Wintermute on AI Crypto Coins: How GOAT Could Perform After 93% Fall appeared on BitcoinEthereumNews.com.
Recently, cryptocurrencies have seen extreme market manipulation. It usually involves strategic trading to sway the price in a desired direction. These manipulations can be seen in the creation of red (selling) and green (buying) candles at significant volumes. Ai crypto coins have been at the centre of such manipulations. Wintermute alongside exchanges like Binance and Kraken, allegedly got involved in buying and selling GOAT tokens. They artificially inflated and deflated the prices through these large orders. The potential scenarios for GOAT following such manipulative actions were twofold. It could be a pump followed by dump and vice versa. When Wintermute purchased large amounts of GOAT, possibly in coordination with exchanges, prices surged. As retail investors followed the upward momentum, perceiving it as a buying signal. GOAT activity | Source: The Coin Republic Conversely, when Wintermute started selling off GOAT, the price plummeted. As other traders react to the sell-off, fearing a significant downturn. If the market perceives the pump as manipulation, confidence could wane, leading to a sell-off even amidst buying. Similarly, a perceived over-sell could attract buyers looking for a bargain. Potentially stabilizing or increasing the price after an initial drop. AI Crypto Coin GOAT Price Action Following the steep 93% decline in GOAT’s price since its November peak at 1.4, analysis pointed to increased market pressure, potentially influenced by the market maker alongside major exchanges. Currently, with GOAT’s price hovering around 0.084, the RSI at 34 suggests that the asset is entering oversold territory, although the MACD’s continued bearish trend indicates that downward momentum is still strong. This implied ongoing manipulation tactics such as wash trading or sell walls that suppress price recovery. Should volume increase and GOAT’s price manages to break above the critical resistance at 0.09, this could signal a potential reversal. This would require substantial…
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