$BASED/USDT Analysis
The 1D chart for $BASED is showing extreme volatility following its recent launch. After an massive initial spike to $0.1699, we’re seeing a significant retracement as the market seeks a fair value floor.
Technical Observation:
Aggressive Correction: We are currently down -8.06%, trading at $0.1057. The "wick" on the previous daily candle shows heavy selling pressure at higher levels.
Volume Analysis: High initial volume is tapering off, which is typical for new listings. We are now looking for a support base to form.
Price Action: Currently hovering near the lower end of the opening range