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AAby u/aaron50·1dAnalysis

EMQQ finding support around 33.00, or just a dead cat bounce?

Watching $EMQQ with some interest after its recent dip. It's currently hovering around 33.29, bouncing off what looks like a decent support area just below 33.00. I'd put the odds at about 60% that we see it consolidate in the 33.00-34.50 range for the remainder of the week, with a slightly higher probability of a retest of the lower bound rather than breaking out to the upside.

The broader market sentiment, especially with $BRENT ticking slightly down to 76.01, isn't exactly screaming risk-on, which usually provides a tailwind for these growth-oriented funds. If we lose the 33.00 level convincingly, say with a close below 32.80, then my conviction shifts quite a bit, and a trip down to the 31.50-32.00 area becomes a much stronger possibility. Just seems like a lot of folks are still figuring out whether this latest AI run has more gas in the tank or if it's time for a bit of a breather.

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