SUSHI/USDT - the first depth chart is at 2pm, 28/1/2021 (USDT) and the second one is at 2.15pm 28/1/2021. 15 minutes apart and the wall is non-existent.
When the value of a stock or crypto currency is questioned by a large enough portion of traders, they will try their best to sell their large holdings quickly. Causing a wall to be built. As the crypto/stock loses support, more people will want to sell to prevent major losses. Since there is already a wall, they will try to sell at even lower prices.
Sell walls, traders pessimistic on the value sell at lower prices in order to sell.
This wall of red could be an accumulation of retail orders, or just one large whale order. Whales will often take advantage of emotional retailers and manipulate these walls to their advantage. As such a whale wall emerges, in order to get a better price or to drive the price in a certain direction. Whales or simply put traders with deep pockets, will manipulate the order books for their own benefit.
Whale walls, artificially keep the prices low in order to buy.
Let's try our best to use this knowledge to our advantage, try to spot a whale wall and act accordingly.