2025-12-09 19:05:34

How brutal was this drop? Simply put—fewer people are entering, more are cashing out, and the liquidity in the pool is visibly drying up.

Remember last week’s “1011” liquidation event? Leverage players got wiped out completely. What’s worse is the macro environment isn’t helping: rate cuts? Don’t even think about it. Inflation? Still hanging in there. Plus, with international tensions running high, big funds have long since made their exit.

The signals on the chart are crystal clear.

A few key numbers to remember: anything above 134.59 is solid resistance, 130.41 is also a cap, 126.99 is the bull-bear dividing line, and if 121.54 breaks… well, let’s not even go there.

Technical indicators are even more straightforward: red bars shooting up, trading volume spiking—a classic panic sell-off. The MACD lines have crossed down below the zero axis, confirming that the short-term trend is still bearish. So those small rebounds? Most likely bull traps, don’t fall for them.

Where do we go from here? Personally, I think the downtrend isn’t over.

Even if there’s a rebound, it’ll probably stall around 130.41, then keep heading lower. If the 121.54 support doesn’t hold, there’s a lot more room to fall.

Two pieces of advice for trading: if you’re holding, sell in batches in the 130-134 range—don’t try to tough it out; if you’re looking to bottom fish, hold off and start buying in batches only between 126-121—never go all in at once.

That said, in such a lousy market, there’s actually one project that’s pretty interesting—Plasma.

While everyone else is panic selling and bailing, it’s actually making moves at this critical juncture. Why is it worth watching? Its technical architecture is genuinely impressive, based on modular...

XPL-9.5%

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ForkInTheRoad

· 13h ago

The saying that the pool hits the bottom has been heard too many times. Anyway, I don’t believe in any 121.54 defense line; if it breaks, it just breaks. --- Time to cut losses again. Let’s see if Plasma can come up with some tricks. --- Getting wiped out by leveraged players is hilarious. They deserve it. Playing like that and expecting to make quick money. --- Selling in stages on the 130 rebound? I think it’s unlikely. It will probably keep falling later, don’t get your hopes up too high. --- With such a terrible macro environment, who dares to buy the dip? Really a daredevil. --- I just want to know why Plasma dares to plan at this time. Do they really have something, or are they just trying to shake out retail investors? --- Talking about trap trading is right. Every rebound they want to trick me into full position. Haha. --- After breaking 121.54, is it game over? Feels like it could get even worse. --- Holding back from buying the dip is the right stance. This market has no bottom line.

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MetaMasked

· 12-11 18:51

The bottom has been reached, and this time I really can't afford to play anymore. That wave at 1011 directly teaches people how to behave; leverage is really enjoyable, it's so fun even when it gets intense. When it rebounds to 130, it's time to run; don't wait until 121 breaks before crying. Plasma is bottoming out here; it's a bit interesting, but it really depends on whether the technical stack is genuine.

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EntryPositionAnalyst

· 12-11 09:53

The bottom of the pool is truly a bit desperate; the 130 level probably can't hold anymore. --- 诱多 is just a scam to take your money. Don't follow the rebound, really. --- Plasma still dares to move at this time, it's a bit interesting, worth digging into. --- My account was directly wiped out during the 1011 wave. Now I find everything annoying. --- Breaking 121.54 means the game is over, those preparing to buy the dip will have to wait a long time again. --- With such poor macro conditions, big funds have already left; retail investors are still dreaming here. --- Let's take profits in batches at 130-134, everyone. Don't hold onto illusions. --- The MACD signal is really weak; if it continues downward, there's no room for discussion. --- Buy the dip? Wait a moment, don't rush to go all in and send your head. --- In such an environment, projects that dare to deploy do have some guts.

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ParanoiaKing

· 12-09 19:35

I do believe the pool is running dry, but can Plasma really hold out this time... Honestly, it seems a bit shaky. --- Leverage players really got wiped out this time, I was just watching from the sidelines, it feels rough. --- If 121.54 breaks, I’m just going to sleep—doesn’t matter if I watch or not. --- I’ve seen too many fake-out rebounds like this, I don’t buy it at all. --- Any project still daring to make moves at this point is either foolish or truly has some vision. --- Macro conditions are this bad and they still won’t cut rates, no wonder the market is struggling. --- The idea of selling off in batches sounds good, but when it comes to actually doing it, nobody’s willing. --- Why wouldn’t Plasma rug? I just don’t have that kind of nerve. --- You really should be reducing your position around 130, don’t tell me you’re still stubbornly holding on. --- Technical indicators have already surrendered, so we’re expecting more drops ahead, right?

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FallingLeaf

· 12-09 19:30

The pool being drained is a harsh statement, but the exit army is indeed on the move. I no longer believe in bull trap rebounds; last time on 1011, someone already got wrecked. Plasma looks a bit interesting. While everyone else is running, I prefer to go against the trend—that’s the real way to make money. If 130 doesn’t break, I’ll hold off on bottom-fishing; I’ll wait for 121 before making a move. This market is really exhausting. If I had known earlier, I would have swapped everything to stablecoins.

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UncommonNPC

· 12-09 19:22

Saying the pool has bottomed out is spot on, it's really a bloodbath. A bull trap rebound? Already saw through it, 130 can't hold at all. Plasma's move this time is pretty interesting. While others are running away, it's doubling down. This kind of contrarian thinking is what makes a real player. If 121.54 breaks, there really won't be any bottom, it's a bit worrying. Reducing positions in batches is the way to go, those going all-in to catch the bottom will probably get wrecked.

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MEVHunterZhang

· 12-09 19:14

Hmm... this market is just ridiculous right now, so many people are panic selling, it hurts just to watch. Wait, is Plasma buying the dip? Not bad. If 121.54 really breaks, I might as well eat dirt. If it rebounds to 130, you should sell—don’t expect it to go all the way back up. The pool is already at the bottom and you still want to get in? That’s just asking for trouble. Once the support line breaks, there’s room to fall, my position is looking risky. Leverage traders really got wiped out this time, it’s tough to watch. With the macro environment this bad, I’m not touching anything until we hit the bottom. Bull trap? I’ve been burned before, not falling for it again. Plasma is actually kind of interesting, but entering now? Way too early.

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