Aergo forum
Given, at this point a lot of volume has surged in so that limits what an individual whale can do, unless they have dozens or hundreds of millions at their disposal. But regardless, if price action suggests support at, let’s say, .22, and you’ve got a disproportionately large buy wall just under .22 on the order book, if that wall keeps shifting down as price approaches .22 or suddenly disappears followed by a sell wall popping up just over .22, it may be time to GTFO because the support at .22 was artificial to begin with. That said, it can also play out differently.
TL;DR: L2 data is just as important to monitor here, if not more, as price action.
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