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@$FOLKS The recent trend warrants caution. From a capital perspective, the main force is accelerating its withdrawal—net inflow and outflow data show a net outflow of $97.67 million, and while retail investors are still absorbing, their capacity to support is clearly insufficient. This stark contrast usually indicates that selling pressure will continue.
From a technical standpoint, the red flag is even more evident. The MA7 short-term moving average has already broken below the MA30, and the entire short-cycle moving average system is showing a typical bearish alignment. Trading volume has not significantly decreased but remains high, which is a dangerous signal of "the more it falls, the more aggressively it is sold"—retail investors are currently engaging in panic selling.
Key support levels have already been broken. The previous support line at 4.270 was directly breached. Currently, the price is temporarily around 4.3, but this level has very weak support, and sell orders are still stacking up. From a more macro perspective, this correction is essentially a "debt repayment" for previous excessive gains. Coupled with the recent pressure on the entire crypto market, once funds for small and mid-cap tokens like $FOLKS start to withdraw, a free-fall decline is likely.
In such market conditions, extra caution is necessary. Observing the performance of major tokens like SOL and ETH may help in judging the overall market direction.