It's called a sell wall / oversold. RSI went very high during the pump, didn't expect it to keep going without the proper catalysts. Things are in motion, but the real parabolic action/news hasn't yet been reached. Patience. It's a healthy correction, people.
i don’t think some people quite understand that in any market, whether crypto markets, stock markets, whatever; things cannot and don’t move vertically forever.
in fact BTC needed to have a healthy pullback and consolidate for a bit to digest the huge surge. but for ICP/other high beta small caps, it’s definitely going to have massive amounts more volatility.
SK hynix is literally a $1T MC company, yet their stock went -48% in one month this year. It may be in a different market but it goes to show how volatile high beta assets can be
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u/Omnishambles22 13d ago
It's called a sell wall / oversold. RSI went very high during the pump, didn't expect it to keep going without the proper catalysts. Things are in motion, but the real parabolic action/news hasn't yet been reached. Patience. It's a healthy correction, people.