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Someone is definitely trying to exit their position on $XEC without anyone noticing.
The daily chart is looking pretty ugly honestly. We’ve been in a consistent downtrend since early February and just broke below that 0.00000750 support level that was holding things together. Now we're sitting at 0.00000694 and the momentum is all to the downside.
The volume isn't even picking up on this drop which is actually more worrying. It means there’s just no one stepping in to buy the dip yet. If we don’t reclaim 0.00000720 fast, the next stop is likely that wick low near 0.00000680 or even lower.
I’m staying away from this one until I see a double bottom or some actual volume coming back into the green candles. Right now, it's just catching falling knives.
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