【BDXN Major Pullback, How to View Key Levels?】

The current price is at 0.01699 USDT, down 31.38% in 24 hours. Trading volume is 162 million, and open interest is 198 million. Interestingly, although the price has dropped sharply, trading volume is increasing, and open interest has not shown a significant decline. What does this indicate? It’s less likely to be a collective liquidation of longs and more like large investors slowly offloading their holdings.

**From a technical perspective, where are the key levels?**

The support level below is quite critical at 0.01500, which was the most densely traded area previously. If the price effectively breaks below this, the next support is at 0.01000. On the upside, 0.02000 is the first resistance to face during a rebound. To truly reverse the trend, a strong breakout above 0.02500 is necessary. But honestly, given the current environment, the probability of that happening is low.

**How to operate?**

The current trend is clearly downward, so bottom-fishing on the left side is not very wise. If the price rebounds to around 0.02000 and faces resistance again, that presents a short-selling opportunity on the right side. Unless there is a volume breakout above 0.02500 from the recent decline point, it’s unlikely to turn around in the short term.

**What is the project itself?**

BDXN operates in the Web3 infrastructure sector. Its core logic is to coordinate distributed computing resources via blockchain, providing elastic computing power services externally. Simply put, it aims to be the "blockchain version of AWS," aggregating idle computing power from around the world and selling it as cloud services to those in need. Its competitiveness mainly depends on the scale of its node network and the efficiency of its scheduling algorithms.

**Be cautious with the token.**

The main use of the token is to pay for computing power and incentivize node participation. The problem is, if circulation is too high, there’s a significant risk of continued selling pressure. Also, watch out for potential large unlocks in the future. A deeper issue is that if the token can only be used for payments without a burn mechanism or staking to capture value, its intrinsic value will be hard to sustain.

**Why did it drop so sharply this time?**

From first principles, the distributed computing sector must compete with centralized giants like Amazon and Google in terms of cost and user experience. The current challenge for BDXN is: how large is the actual available computing power? How many customers can it truly acquire? Can the token economy be sustainable in the long run? These three questions have not yet formed a complete verification loop. This sharp decline mostly reflects market concerns about the project’s fundamentals.

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