NFT Crash: Trader Loses $10M Selling THIS Rare NFT Collection
Massive Loss on CryptoPunk Sale: A trader sold the rare CryptoPunk #3100 for 4,000 ETH, incurring a $10 million loss due to a significant drop in Ethereum's price from $3,500 to around $1,568 since its original purchase.
NFT Market Volatility: The sale highlights the ongoing downturn in the NFT market, where many investors are facing steep losses, particularly those who entered during the 2021-2022 hype cycle, as declining volumes and prices affect even rare tokens.
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Technical Analysis for RARE
Technical Sentiment Analysis for SuperRare (RARE) As of , SuperRare (RARE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for RARE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, RARE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
SuperRare (RARE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00579 | 0.0109 | 0.0155 | 0.0206 | 0.0252 | 0.0303 | 0.0349 |
| Fibonacci | 0.0109 | 0.0146 | 0.0169 | 0.0206 | 0.0243 | 0.0266 | 0.0303 |
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