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The support level was set at 0.55, but the low volume clearly indicates that the market makers are fabricating panic to flush out retail traders. We will have to see how long they intend to grind this out, as the price has dipped to 0.545. If the insiders were truly liquidating their positions, the volume today would be closer to 50 million rather than just 5 million.
The stock rapidly rebounded from 0.54 back to 0.57. The market maker successfully fabricated panic to shake out a wave of retail investors before initiating this quick reversal. Entering with a small position here is reasonable. However, this is not the main uptrend yet. We must wait for the price to reclaim 0.62, break above 0.65, and stabilize there before it has a genuine shot at climbing much higher.